2024-06-26 20:41:31 ET
Summary
- Cosmetics company Waldencast has declined by 64% year-to-date at the stock markets, despite positive financial performance and outlook as well as growth in the prestige beauty market.
- The price fall can be explained by its still elevated market multiples compared with peers, which indicate that in the short-term, the stock can decline more.
- However, it has significant medium to long term potential, as a growing beauty brand. Its expansion into international markets is particularly encouraging.
The cosmetics company Waldencast ( WALD ) has had a bad 2024 at the stock markets so far, with a price decline of 64%. The decline started early on in the year following the release of its full-year 2023 results and its positive first quarter (Q1 2024) results didn't help. ...
Read the full article on Seeking Alpha
For further details see:
Waldencast: Price Can Fall Further For Now, But Medium Term Potential Exists