Why Coty Stock Skyrocketed Last Month
Shares of Coty (NYSE: COTY) jumped on a rocket ship last month, as the cosmetics maker's stock surged on a better-than-expected earnings report, demonstrating traction in its turnaround efforts. An announcement that it would complete the sale of its Wella professional hair care business to KKR also helped lift the consumer discretionary stock .
According to data from S&P Global Market Intelligence, the stock finished the month up 148%, in part a reflection of how far it had fallen earlier in the year.
Image source: Coty.
Source Fool.com
