Monster Energy Drink Stock Drops After Death Reports
(NEW YORK) — Shares of Monster Beverage Corp. (NASDAQ: MNST) fell over 14 percent after the Food and Drug Administration revealed it received reports that five people consumed the energy drink before their deaths in the past year.
Monster stock fell 14.23 percent by the close of regular trading on Monday to $45.73.
Incident reports submitted by doctors and companies revealed that the energy drink was cited in the deaths of five individuals, but they are not considered conclusive until fully investigated by the Food and Drug Administration, Bloomberg reported.
Last week, the family of teenager Anais Fournier of Maryland sued the energy drink company after she died after consuming two cans of the drink.
In December, Anais, 17, had reportedly consumed two 24-oz. cans of Monster within 24 hours, about 480 milligrams of known caffeine or the equivalent of about a dozen cans of Coca-Cola, according to her family. They say she went into cardiac arrest while watching a movie at home.
According to the autopsy report and the death certificate, Courthouse News reported, Anais died from “cardiac arrhythmia due to caffeine toxicity complicating mitral valve regurgitation in the setting of Ehlers-Danlos syndrome.” Ehlers-Danlos is a genetic disorder.
Monster is the second-highest seller of caffeinated energy drinks behind Red Bull, which had $1.6 billion and $2.9 billion in sales last year, according to research company SymphonyIRI.
Monster Energy told ABC News it is preparing a statement about the FDA reports.
Copyright 2012 ABC News Radio