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On October 18, 2022, after the market close, Olaplex (OLPX) announced a disappointing guidance cut and the sudden departure of the COO, Tiffany Walden.
On this news, OLPX stocks dropped over 56% and lost about $3.6 billion of its capitalization.
No factors or earlier statements by the Company foreshadowed such a turn of events. “We find COO Tiffany Walden’s sudden resignation…concerning,” writes JPMorgan analyst Andrea Teixeira.
Overall, Investors in Olaplex shares have grounds to suspect that the Company and its Leaders misinformed them about business prospects and developments.
Failure to Disclose,
Shock Event Date
18 October 2022