Why Ulta Beauty Stock Looks Gorgeous on Thursday
Ulta Beauty (NASDAQ: ULTA) stock got a facelift Thursday after The Wall Street Journal reported that mega-investor Warren Buffett has taken an interest in the company. Citing public filings, the Journal noted that Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has acquired 690,106 Ulta shares since making its last 13F filing with the Securities and Exchange Commission.
According to the , Buffett's Ulta stake was worth $266 million at the end of June, when the stock cost roughly $380. Unfortunately for Buffett, Ulta stock proceeded to fall toward $320 -- but it's looking a lot better now.
As news of the billionaire's interest spread today, shares of the cosmetics company soared about 12% through 12:40 p.m. ET. At $368 and change, Ulta stock still isn't worth what Buffett paid for it, but it's getting close to breakeven.
Source Fool.com
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