Why e.l.f. Beauty Stock Collapsed 27.2% Last Month
The stock of e.l.f. Beauty (NYSE: ELF) fell 27.2% in September, according to data from S&P Global Market Intelligence. A fast-growing beauty brand taking market share from incumbents, e.l.f. Beauty rose to investor fame after accelerating revenue growth to nearly 100% in recent years. Now, it has revised its guidance downward for the upcoming fiscal year, leading investors to sour on the stock.
Here's why shares of e.l.f. Beauty sank yet again in September.
With its cheaper products compared to the legacy players, e.l.f. Beauty has become a fan favorite among younger beauty shoppers in the United States and increasingly around the world. In the last 10 years, revenue has soared 431% and hit over $1 billion in the last 12 months.
Source Fool.com
