Beauty Health Shares Are Getting A Makeover - Here's Why
Portfolio Pulse from Shivani Kumaresan
The Beauty Health Company (NASDAQ:SKIN) announced a business transformation program aimed at driving profitable growth by cutting costs and streamlining operations. The program is expected to realize annualized cost savings of over $20 million during Q1 2024 and over $15 million during Q2 2024. The company also announced a stock buyback program of up to $100 million. The company's shares are trading higher by 24.41%.
September 12, 2023 | 4:01 pm
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The Beauty Health Company's transformation program and stock buyback announcement have led to a surge in its stock price.
The company's announcement of a transformation program aimed at cost-cutting and streamlining operations indicates a proactive approach to improving profitability, which is a positive signal to investors. Additionally, the stock buyback program indicates the company's confidence in its own stock, which also tends to boost investor confidence and drive up the stock price.
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RELEVANCE 100