ODDITY Tech Ltd. (NASDAQ:ODD) stock surged Wednesday after the beauty and wellness company reported better-than-expected second-quarter results and issued third-quarter and full-year sales guidance above Wall Street estimates.
The rally was likely magnified by elevated short interest, with 32% of the public float sold short, signaling substantial bearish positioning that may have fueled a squeeze.
ODDITY reported adjusted earnings of 20 cents per share, beating the consensus estimate of 16 cents.
Sales fell 25% year over year to $180.52 million but topped the $177.60 million estimate.
The revenue decline primarily reflected lower IL MAKIAGE sales following an advertising account disruption involving the company’s largest advertising partner.
