We recently published an article titled Massive Sell-Offs Just Hit These 10 Stocks Today. In this article, we are going to take a look at where Oddity Tech Ltd. (NASDAQ:ODD) stands against the other stocks.
Wall Street’s main indices finished mixed on Tuesday, as investors digested the country’s latest inflation figures, which came out lower than expected.
On Tuesday, the Labor Department reported that the Consumer Price Index for April rose by only 0.2 percent last month, bringing the annual inflation rate to 2.3 percent, versus the 2.4 percent in March. It was the lowest annual rate since February 2021.
Only the S&P 500 and the tech-heavy Nasdaq registered gains among all major indices, up by 0.72 percent and 1.61 percent, respectively. The Dow Jones, on the other hand, was down by 0.64 percent.
Beyond the main indices, 10 firms lagged in performance amid negative news, sparking sell-offs.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A close-up of a customer’s hands selecting beauty products from an online retailer.
Oddity Tech Ltd. (NASDAQ:ODD)
Oddity Tech Ltd. dropped for a second straight day on Tuesday, losing 14.16 percent to close at $60.16 apiece following its chief executive officer’s disposal of a significant stake in the company.
According to Oddity Tech Ltd., its CEO, Oran Holtzman, disposed of shares in the company to improve the trading liquidity of the stock. He added that he plans to maintain control in the firm, holding approximately 23 percent of ownership.
He added that he entered into a one-year lock-up agreement, indicating that he had no intentions of selling additional shares.
The sell-off was executed under Rule 144 of the Securities Act of 1933.
Oddity Tech Ltd. is a consumer technology company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries.
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This article is originally published at Insider Monkey.