European Wax Center (EWCZ) Shares Skyrocket, What You Need To Know
What Happened:
Shares of beauty and waxing service franchise European Wax Center (NASDAQ:EWCZ) jumped 10.6% in the morning session after the company reported fourth-quarter results, with revenue and EPS both outperforming Wall Street's estimates. On the other hand, its full-year revenue and adjusted EBITDA guidance missed. Regardless, the company continued to invest in growth with plans to launch 75 to 80 centers in FY'2024. Zooming out, this was still a decent, albeit mixed, quarter. The market is shrugging off the guidance, and the stock is up after the results.
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What is the market telling us:
European Wax Center's shares are not very volatile than the market average and over the last year have had only 17 moves greater than 5%.
European Wax Center is up 11.2% since the beginning of the year, but at $14.76 per share it is still trading 25.2% below its 52-week high of $19.72 from April 2023. Investors who bought $1,000 worth of European Wax Center's shares at the IPO in August 2021 would now be looking at an investment worth $690.04.
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