20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
E.l.f. Beauty, Inc. (NYSE:ELF) has made a name for its products among Gen Z consumers on social media. CEO Tarang Amin joined CNBC's "Mad Money" with Jim Cramer Tuesday to discuss the company's digital strategy.
What Happened: Amin told Cramer that E.l.f Beauty’s digital business was up over 100% last quarter, which he attributed to the company’s willingness to try new things.
"As a digitally native brand, we're constantly testing and learning," Amin said on the show. "We're going to constantly test and learn on new frontiers and delight our community."
E.l.f. was one of the first beauty brands to embrace TikTok. The company also has its own channel on Twitch and offers a popular brand experience on Roblox with over 9 million plays.
The company's newest digital experience is the "your best e.l.f." app for the Apple Vision Pro headset. E.l.f. Beauty describes the app as a "spatial experience" where users engage with "playful, inspirational environments that contextualize an assortment of 3D e.l.f. products." Users can also purchase products within the app using Apple Pay.
Related News: Ulta Beauty Faces Headwinds From Slowing Trends, Notes Analyst
Why It Matters: E.l.f. Beauty shares are up more than 90% over the past year as the company continues to take market share.
E.l.f. Cosmetics ranked as the number one cosmetics brand among teens and grew its market share by 16 points year-over-year to 38%, according to Piper Sandler's "Taking Stock With Teens" survey. The survey also showed E.l.f. continues to rank in the top 10 skincare brands and beauty destinations.
Amin told Cramer this week that the company’s business has “never been stronger.”
E.l.f. Beauty has beat earnings estimates on both the top and bottom lines in 12 consecutive quarters, according to data from Benzinga Pro. The company is not due to report earnings again until sometime in May.
ELF Price Action: According to Benzinga Pro, e.l.f. Beauty shares closed 0.08% lower at $167.05 Thursday.
Image: Courtesy of e.l.f. Beauty, Inc.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!