SKIN - Hot Stocks: SKIN OSTK MELI rally on quarterly results; RXT plunges
Wednesday's midday trading was heavily influenced by corporate results, with Beauty Health Company (NASDAQ:SKIN) and Overstock.com (NASDAQ:OSTK) both soaring at least 20% following the release of their respective quarterly updates. Earnings news also spurred buying interest in MercadoLibre (NASDAQ:MELI). On the other side of the ledger, Rackspace (NASDAQ:RXT) dropped despite beating expectations with its headline financial figures. Margin concerns contributed to a double-digit percentage decline. Gainers Beauty Health Company (SKIN) posted a substantial gain in intraday action, bolstered by strong quarterly results. The stock jumped 36% after its Q4 sales more than doubled from last year and the skincare products maker gave an upbeat forecast. Looking ahead, the company projected 2022 sales of $320M-$330M, compared to the $313M that analysts were predicting. SKIN also projected adjusted EBITDA of about $50M for the year after posting a figure of $8.5M in Q4. The release of quarterly results also gave a major
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Hot Stocks: SKIN, OSTK, MELI rally on quarterly results; RXT plunges