Wedbush Securities Equity Research Welcomes Veteran Consumer Analyst Gerald Pascarelli, CFA® as Senior Vice President, Equity Research, Beverages Initiates Coverage on CELH, KDP, MNST, PEP, KO, SAM, BFB, STZ, MGPI, TAP, and NAPA

Los Angeles, CA – October 11, 2022 – Wedbush Securities, one of the nation’s leading independent diversified financial services providers, is pleased to announce the appointment of Gerald Pascarelli, CFA® as the newest Consumer Equity Research Analyst. Gerald initiates coverage on 11 stocks in a new sector for the firm, Beverages – Non-Alcoholic; Celsius Holdings, Inc. (CELH), Keurig Dr Pepper (KDP), Monster Beverage Corporation (MNST), PepsiCo, Inc. (PEP), The Coca-Cola Company (KO), and Alcoholic Beverages; Boston Beer Company, Inc. (SAM), Brown-Forman Corporation (BFB), Constellation Brands, Inc. (STZ), MGP Ingredients, Inc. (MGPI), Molson Coors Beverage Company (TAP), and The Duckhorn Portfolio (NAPA). Today’s actions represent the firm’s entrance into the beverages equity research sector. Gerald is based in Wedbush’s New York office and his Associate, Antoine Legault, is based in the firm’s Los Angeles headquarters.

Prior to joining Wedbush, Gerald served as VP of Equity Research at Cowen, Inc., where he covered both the alcoholic and non-alcoholic beverage sectors for eight years and was also an integral part of the firm’s coverage launch into the cannabis sector in 2016. In his previous role, Gerald contributed to several research white papers and cross-category consumer reports, focused on market sizing, consumer demographics and cannabis’ impact on alcoholic beverages. Prior to Cowen, Gerald spent eight years at Kingdon Capital Management, a New York-based hedge fund. He states, “My experience in data-driven analysis that revolves around the understanding of consumer demographics, new products and changes in consumer purchase behavior, complements the consumer research franchise, and I couldn’t be happier to be a part of this Wedbush team.”

Kevin Merritt, Wedbush Securities’ Director of Research adds, “Gerald brings a tremendous amount of experience in the beverages sector, and he is an exceptional addition to our team. Our expansion into both the non-alcoholic and alcohol beverage categories builds on the firm’s growth vision in the consumer vertical.”

Gerald received his Bachelor’s degree in Business Administration with a concentration in Finance from the State University of New York, at Albany. He is also a CFA® charterholder.

Gerald Pascarelli
Senior Vice President, Equity Research

About Wedbush Securities
Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush has been a leader in the financial services industry, providing our clients, both private and institutional, with a wide range of securities brokerage, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology.

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