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When prestige hair care brand Olaplex

first debuted on the Nasdaq in late 2021, it surpassed pricing predictions and gained momentum fast.

The company opened at $25 per share, an increase from its initial public offering pricing estimates. It was part of a broader group of retailers that went public that year amid an IPO boom. Olaplex hit its all-time high just a few months after its public debut, reaching a price of $29.41 on Jan. 3, 2022.

But that run didn’t last long.