Why Yatsen Stock Soared Today
Shares of Yatsen Holding Limited (NYSE: YSG) soared on Wednesday after the company filed its 2020 financial results with the Securities and Exchange Commission (SEC). Of course, the company had previously announced its results so today's filing shouldn't have contained any new information. But Yatsen stock nevertheless was up 12% as of 2:45 p.m. EDT.
Yatsen is a fast-growing, direct-to-consumer (DTC) cosmetics business in China. Although the company was only founded in 2016, it has quickly grown to over 32 million DTC customers as of the end of 2020. Reflective of this rapid customer growth, its revenue increased 76% year over year in 2020, reaching $802 million. However, it did report a net loss of $412 million on the year, as it spent over $500 million on sales and marketing expenses.
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Source Fool.com
