Japanese cosmetics marketer Yoshitsu ( NASDAQ: TKLF ) saw its shares tumble 20% Friday, the day after the stock rallied nearly 30%.
Shares of Yoshitsu opened at $1.63, reaching a session high of $1.70 in early trading before sliding to $1.32 in early afternoon. The stock recently changed hands at $1.35, down 20%, at approximately 2:00 p.m. ET.
The activity comes amid no apparent press releases from the company, although a recent SEC filing said that it held its annual meeting on June 27, with shareholders electing a new corporate auditor.
Yoshitsu stock closed at $1.60 on Thursday, up 29%, after hitting a session high of $2.05.
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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Yoshitsu stock retreats 20% after rallying 30% in prior session