Stock Market Today, March 26: Olaplex Shares Surge After Henkel Agrees to $1.4 Billion Buyout

Olaplex (NASDAQ:OLPX), a hair care treatment and protection specialist, closed Thursday at $2.01, up 51.13% for the session. The stock surged after news that German consumer goods behemoth Henkel agreed to acquire Olaplex for $2.06 per share in cash. Trading volume reached 104.6 million shares, about 2,904% above its three-month average of 3.5 million shares. Olaplex IPO'd in 2021 and has fallen 92% since going public.S&P 500 fell 1.76% to finish Thursday at 6,476, while the Nasdaq Composite declined 2.38% to close at 21,408. Within personal care products, industry peers Estée Lauder Companies closed at $69.72, down 4.64%, and Procter & Gamble finished at $142.33, slipping 1.10% as investors reassessed sector growth prospects.Olaplex’s disappointing run as a publicly-traded company is coming to an end after the company agreed to be acquired for $2.06 per share in an all-cash deal with German consumer goods giant Henkel. The deal is worth $1.4 billion, far from Olaplex’s $15 billion market cap at its initial public offering in 2021.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool