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Share price tumbles post news as hair care company battles lawsuits and misinformation about its hair strengthening system.
August 9, 2023
By: TOM BRANNA
Editor
Olaplex shares fell 25% after the hair care company cut its full-year sales guidance following a disappointing second quarter. Olaplex is forecasting net sales in the range of $445 million to $465 million for fiscal-year 2023. That's about 25% less than its previous forecast. The company went public through an initial public offering in 2021. In early morning trading, Olaplex shares were priced at $2.96. That's down from a high of $6.89 in February. According to CEO JuE Wong, Olaple...
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