Why The Beauty Health Company Tanked 15% on Wednesday
Shares of The Beauty Health Company (NASDAQ: SKIN) dropped 15% on Wednesday after reporting its first-quarter earnings results. The maker of the HydraFacial skin treatment device posted strong growth in the first three months of 2022, but investors were disappointed with the results. The stock also got downgraded by Wall Street analysts after the report. As of the close of the market on Wednesday, May 11, the stock was down 15.3% for the day.
The Beauty Health Company sells delivery systems and other components for its HydraFacial product to estheticians and consumers around the globe. It operates in 90 different countries with 20 thousand delivery systems in place around the globe. With customers and professionals using the product on a regular basis, The Beauty Health Company has a reliable revenue stream.
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Source Fool.com
