Why Oddity Stock Plummeted 32% in September
Shares of Oddity Tech (NASDAQ: ODD) stock dropped 32% in September according to data provided by S&P Global Market Intelligence. Despite excellent results in its first report as a public company, investors are worried about whether or not it can keep it up, and short interest has been building.
Oddity is an artificial intelligence-based cosmetics and skin care company that sells products through its consumer-facing websites and mobile apps. It has been demonstrating high-double-digit growth rates and has the advantageous feature of already being net profitable.
The company claims to have proprietary digital technology that can assess individual skin care needs from a phone camera even better than a human eye. It also recently completed a buyout of a Revela, a Boston-based biotech company, rebranding it as Oddity Labs.
Source Fool.com
