Why Beauty Health Stock Sank This Week Before Bouncing Back Today
At one point, shares of Beauty Health (NASDAQ: SKIN) were down as much as 14% for this week, according to data provided by S&P Global Market Intelligence. However, the stock is finishing the week out strong, with a nearly 11% gain today, as of 1:50 p.m. ET.
Beauty Health reported financial results for the second quarter of 2023 late last week that disappointed the market. And it seems like investors were growing increasingly pessimistic earlier this week as they sold off shares.
As it turns out, not everyone was selling Beauty Health stock. Regulatory filings yesterday and today revealed that insiders -- directors, CEO, and CFO -- have been purchasing shares at current market prices. And the market always takes this as an extremely bullish signal.
Source Fool.com
