Spruce Point Capital Management Announces Investment Opinion: Releases Report And Strong Sell Research Opinion On E.L.F. Beauty, Inc.
Portfolio Pulse from Benzinga Newsdesk
Spruce Point Capital Management has released a report expressing strong sell research opinion on e.l.f. Beauty, Inc. (NYSE:ELF). The report questions e.l.f. Beauty's partnership with Movers+Shakers, an advertising agency co-founded by former members of the NXIVM cult. Spruce Point suggests that e.l.f. Beauty's marketing messages are similar to those used within the NXIVM cult and questions whether e.l.f. Beauty's core values align with retail partners such as Walmart, Target, and Ulta Beauty. Spruce Point sees a 45% to 65% long-term downside risk to e.l.f. Beauty's share price.
November 09, 2023 | 4:14 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Spruce Point Capital Management has issued a strong sell research opinion on e.l.f. Beauty, Inc. (NYSE:ELF), citing concerns over its partnership with Movers+Shakers, an agency linked to the NXIVM cult. Spruce Point sees a 45% to 65% long-term downside risk to e.l.f. Beauty's share price.
The report by Spruce Point Capital Management raises serious concerns about e.l.f. Beauty's partnership with Movers+Shakers, an advertising agency co-founded by former members of the NXIVM cult. This could potentially harm e.l.f. Beauty's reputation and relationships with its retail partners, which could in turn negatively impact its share price. Spruce Point sees a 45% to 65% long-term downside risk to e.l.f. Beauty's share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100