Why Coty Stock Was Falling Today
Shares of Coty (NYSE: COTY) were taking a dive today after Forbes removed Kylie Jenner from its list of billionaires and alleged that Jenner inflated the sales volumes of her company, Kylie Cosmetics. Coty paid $600 million for a 51% stake in Kyle Cosmetics last November.
As a result, Coty stock was down 10.4% as of 2:32 p.m. EDT.
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Source Fool.com