Shares of Japanese cosmetics marketer Yoshitsu ( NASDAQ: TKLF ) soared 35% on Thursday afternoon.
Yoshitsu stock opened at $1.28, dipping to a low of $1.20 in early trading before climbing to a high of $2.05 in mid-afternoon. Shares recently changed hands at $1.67, up 35%, at approximately 2:30 p.m. ET.
The rally came amid no apparent press release from the company, although a recent SEC filing said that it held its annual meeting on July 27, with shareholders electing a new corporate auditor.
Based in Tokyo, Yoshitsu ( TKLF ) is a retailer and wholesaler of Japanese health and beauty products.
Last week, Yoshitsu announced it planned to enter the Malaysian market by opening a new store in Kuala Lumpur by the end of the year and four more stores by the end of 2023. The company is also looking to expand into Thailand and Singapore.
Yoshitsu held a US initial public offering on Jan. 28, raising $24M.
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Japanese cosmetics retailer Yoshitsu stock rallies 35%