EWCZ - Will These 2 Hair Removal Stocks Put Hair On Your Portfolio's Chest?
Summer and autumn 2021 have seen initial public offerings (IPOs) from two companies related to hair removal. First to go public was European Wax Center (NASDAQ: EWCZ) , a waxing and skin care salon chain founded as a private company 17 years ago. Now, in mid-October, laser hair removal company Milan Laser has filed for an IPO, too, which will probably end up valuing the enterprise at about a billion.
Some of the metrics of these companies look quite positive, though European Wax Center at least has shown a lot of volatility, so bullishness should be tempered with caution.
Barely two and a half months out from its Aug. 5, 2021 IPO, European Wax Center sold its initial shares at $17 apiece, raising an approximate $180 million in proceeds. As of mid-October, its shares are trading in the $25 to $27 region, or a nearly 60% upside from its launch. This gives it a current market capitalization (market cap) of $1.73 billion, with relatively low short interest of 4.65%.
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Will These 2 Hair Removal Stocks Put Hair On Your Portfolio's Chest?