Long Position on OLPX @ $28.00 on 1/3/2022 (Fundamentals)

Olaplex Holdings, Inc. (OLPX) manufactures and sells hair care products. It offers hair care shampoos and conditioners for the hair treatment, maintenance, and protection. The company was founded in 2014 and is based in Santa Barbara, California.

The Santa Barbara, Calif.-based company pioneered bond-building, a type of hair treatment. Olaplex's products claim to relink the damaged bonds that make up hair, remaking from the inside rather than merely adding shine.

Olaplex Holdings reported 3rd Quarter September 2021 earnings of $0.10 per share on revenue of $161.6 million. The consensus earnings estimate was $0.09 per share on revenue of $145.1 million.

The company said it expects 2021 revenue of $580.0 million to $588.0 million. The current consensus revenue estimate is $536.52 million for the year ending December 31, 2021.

Beginning this month, the company plans to launch 1,250 of its patented products and expanded its partnerships to be sold online and in stores, at some locations such as Ulta, Nordstrom, and Sephora. This new launch should contribute to a strong earnings report on February 9, 2022.

Entry Point: $28.50

Stop Loss: $27.00

Trading Range: $22.84 - $30.41

Target Price: $31.35

Position closed on 2/1/2022 at price of $26.00 with a -7.14% loss in 29 days.

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