Market Realist 2-13-18

Ulta Beauty: S&P 500’s Top Loser on February 12

By Val Kensington 3 hours ago

Top losers

The S&P 500’s top losers on February 12 were:

  • Ulta Beauty (ULTA) fell 4.2%.
  • Dollar General (DG) fell 3.2%.
  • Gap (GPS) fell 2.7%.
  • Dollar Tree (DLTR) fell 2.7%.
  • Ventas (VTR) fell 2.2%.

Ulta Beauty

Ulta Beauty, which is a chain of beauty stores in the US, was the S&P 500’s top loser on February 12. After declining for three consecutive trading weeks, Ulta Beauty opened higher on Monday but didn’t maintain the strength. Ulta Beauty fell to multi-week low levels.

The selling pressure in Ulta Beauty increased on Monday as a class action lawsuit was filed against the company. Chicago-based Zimmerman Law Offices filed a nationwide class action suit alleging that Ulta Beauty repacked and resold used cosmetic products. The lawsuit dented the market sentiment and triggered a sell-off on February 12.

Amid increased selling, Ulta Beauty declined 4.2% on Monday and closed the day at $209.48—a two-month low price level. Ulta Beauty is part of the S&P 500 Consumer Discretionary sector, which gained 1.4% on February 12.

 

https://marketrealist.com/2018/02/ulta-beauty-sp-500s-top-loser-february-12

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