Stock Pick: Oddity Tech Ltd

After an 80% drop in public listings in 2022, the IPO market has started to heat up again. This year, several multibillion-dollar names have gone public, including Instacart ($CART), Cava ($CAVA), Arm Holdings ($ARM), and others. But one of the most interesting listings of this year is a relatively unknown company, Oddity Tech Ltd. ($ODD).

ODD went public in July in a highly successful IPO as the stock soared as much as 40% in the debut. But fast forward to today, and $ODD is already down more than 50% from its all-time highs.

This kind of volatility is pretty normal for a newly listed name and will probably continue for several months, if not years, given the dynamic underlying fundamentals.

Despite the expected high volatility, ODD stock looks very attractive at all-time lows as the business is firing on all cylinders. ODD is a very unusual company in the beauty and wellness space. It has achieved massive success in a very short period of time, and it seems that its momentum will allow it to continue to win and gain market share in a massive industry. Let’s delve a little deeper.

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