We recently published a list of While Wall Street Naps, These 10 Stocks Run Wild. In this article, we are going to take a look at where e.l.f. Beauty, Inc. (NYSE:ELF) stands against other best-performing stocks.
e.l.f. Beauty surged by 23.58 percent on Thursday to end at $111.84 apiece following news that it was acquiring makeup line Rhode, a company owned by Justin Bieber’s model wife, Hailey, for $1 billion.
In a statement, e.l.f. Beauty, Inc. said it officially inked a definitive agreement with Rhode for the said amount. The transaction includes an $800-million combination of cash and stock, and an additional $200 million based on the future growth of the brand over a three-year timeframe.
A close up of the lip and eye products from the company on a model in a fashion and beauty shoot.
“[Rhode] further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by Rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company,” said e.l.f. Beauty, Inc. Chairman and CEO Tarang Amin.
The brand has seen incredible growth, more than doubling its consumer base over the past year and driving a total of $212 million in net sales in the past 12 months ending March 31, 2025.
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This article is originally published at Insider Monkey.
