Riverwater Partners' Micro Opportunities Strategy sold its stake in Zevia PBC after the beverage company's chief executive resigned unexpectedly in mid-June 2026, illustrating the fund's sell discipline. The strategy had purchased the position in early May as fundamentals improved, with Zevia moving from roughly $20 million of annual losses toward positive EBITDA under a CEO whose leadership was central to the investment thesis. When she left, the fund exited at a modest gain, honoring a pre-stated commitment to sell if she departed. Zevia closed at $1.50 per share on July 23, 2026, with a market capitalization of $107.66 million, and its shares lost 54.41% over the past 52 weeks. The fund noted that Zevia remains on its watch list after meeting the successor, whose experience includes a key role in Celsius's rise.
Zevia PbcCEO resignation triggered fund's exit; shares lost 54.41% over 52 weeks.
Celsius Holdings Inc