This AI IPO Stock Just Crushed Its First Report As a Public Company. Here's Why Its Stock Dropped
When companies first go public, they often capture an extra dose of market attention because of the possibility that investors have to get in early on a high-growth opportunity. While some initial public offerings slip under the radar and may not make much of a splash, others pique investor interest and can skyrocket rapidly. Such high-flying IPO stocks frequently plunge after the initial hype wears off, but others are worth watching for their long-term potential.
Oddity Tech (NASDAQ: ODD) went public in July, and it just released its first quarterly report as a public company. It demonstrated phenomenal growth, beat guidance, and raised guidance for the rest of the year. Yet the stock fell following the earnings release.
Oddity operates two direct-to-consumer websites with similar models. Il Makiage sells cosmetics, and SpoiledChild sells hair and skincare products. Both use artificial intelligence and machine learning technologies to offer consumers personalized experiences and product recommendations based on their specific needs, carving out a niche in what's becoming a crowded market.
Source Fool.com
