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Why Coty Stock Was Gaining Today

TheMotleyFool

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Why Coty Stock Was Gaining TodayPhoto, wide shot, wide-angle lens, Personal care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/44547be2-b411-43fb-91ed-bf4a69577d94.png

Shares of Coty (NYSE: COTY) finished higher today after the cosmetics company said it would open up a new Gucci beauty store on Tmall, Alibaba's online shopping mall.

The stock gained 10.9% on the news as investors saw the move as another step in Coty's turnaround.

Image source: Coty.

Source Fool.com

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