Shares of beauty company Oddity Tech (ODD) are rising on Friday after the company's board of directors approved a $150 million share repurchase program. The move comes on the heels of Oddity Tech's decision to raise its second-quarter outlook, buoying investor optimism.
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This post Angel Smith
Video Transcript
And the other ticket trend we're watching is weird tech.
This is a beauty company.
The stock price has soared after the company's board of directors approved a $50 million share repurchase program for up to 100 million shares and also raised its outlook for the second quarter ending June 30.
The company now expects to be profitable.
Uh, in the second quarter of 2024, uh, it was about $100 million, $89 million, 185,189.
Earnings per share forecast raised to 69 cents from 56 cents.
Well, the stock has recently been hit by short sellers who have published research into Ning Ning Ning.
We published a short report on May 21st, and this is the result of the sharp drop in stock prices.
The company refuted the reports.
But it also seems to be in some ways a reaction to that.
Here are some notes from truest.
And the analyst points out that the buybacks are opportunistic.
So, you've heard Warren Buffett talk about buybacks, and he wants to do them at the right price, and I feel like that gets to the heart of what analysts are saying when they say, “This is the first authorization that companies are allowed to take advantage of large fluctuations in stock price.”
We believe Odd That Odd has sufficient financial flexibility to deploy this share repurchase program while investing in growth initiatives.
And then I found out they were the owners of Spoiled Child.
Yes, is that so?
That's another one.
