Why e.l.f. Beauty Stock Jumped on Wednesday
Shares of e.l.f Beauty (NYSE: ELF) were up 16% as of 10 a.m. ET on Wednesday after the cosmetics brand delivered better-than-expected sales growth for the fiscal first quarter of 2024.
Sales grew an impressive 76% year over year, but the company still has a lot of opportunity to expand overseas.
The stock has been rocketing higher over the last year. The momentum started with the reopening of the economy after the pandemic, and management has capitalized on it with smart marketing tactics using social media influencers and other celebrity collaborations.
Source Fool.com
