Coty Stock Glows Up with Possible Kardashian Cosmetics Line

The equity is now up 23% for the month

Digital Content Manager
Jun 3, 2020 at 11:26 AM
facebook X logo linkedin


The shares of Coty Inc. (NYSE: COTY) are up 6.5% at $4.47 this morning -- one of the best stocks on the New York Stock Exchange -- after the cosmetics company disclosed it is in talks with reality TV star Kim Kardashian West over a possible collaboration on a line of beauty products. Coty already has a majority stake in Kylie Jenner's makeup and skincare line, though the $600 million acquisition recently came under scrutiny and shares shed 13.4% on Friday, after Forbes magazine alleged Jenner overplayed the value of her cosmetics brand.

Despite the potential new line and yet another CEO change, COTY is trying to bounce back from a steep mid-May fall near to its March lows around $3. Overhead pressure is still strong at the 30-day moving average, despite news of the collaboration. Nevertheless, the shares sport a 23% month-to-date gain already. 

Additional gains could come from a short squeeze. Short interest is up 39.97% in the most recent reporting period to 28.29 million shares, the most since November. This makes up roughly 10% of the stock's available float, which could fuel more gains should pessimism begin to unwind. 

What's more, short-term traders have been targeting calls at a rapid rate, according to COTY's Schaeffer's put/call open interest ratio (SOIR) of 0.21, which sits in the low 3rd percentile of its annual range. This indicates that short-term traders have rarely been more call-biased during the past year.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI