e.l.f. Beauty Is Down 53% From Its All-Time High. Is the Sell-Off an Overreaction?
The cosmetics and skincare company's high-growth days are over.
Overview
E.l.f. Beauty's (NYSE: ELF) stock closed at a record high of $221.83 per share on March 4, 2024. That marked a 1,205% gain from its IPO price of $17 per share on Sept. 21, 2016. At the time, the cosmetics company dazzled the market with its rapid sales growth, soaring popularity among Gen Z consumers, and its aggressive expansion plans.
But today, e.l.f.'s stock trades at about $105. Its stock pulled back amid concerns about its slowing revenue growth, higher spending, and its dependence on Chinese suppliers. Let's see if that sell-off was an overreaction -- and if its stock can eventually bounce back.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.