Monster Beverage sold a minority stake to Coca-Cola in August

Monster Beverage sold a minority stake to Coca-Cola in August

Monster Beverage Corp's CEO has sold company stock worth US$$1.8m two months after the share price jumped 30%.

Rodney Sacks offloaded 19,858 shares at an average price of $92.38 on Tuesday, according to a filing with the US Securities and Exchange Commission. Sacks retains 26,176 shares valued at about $2.4m.

On 15 August, Monster Beverage's share price rocketed after The Coca-Cola Co agreed to pay $2.15bn for a 16.7% stake in the energy drinks company. Coca-Cola said the move would see Monster become a “pure-play” global energy drinks company and accelerate growth in the category.

Yesterday, Monster's share price climbed by 4.3% to $96.47.