Business
The Adore Beauty (ASX:ABY) share price on watch after Morgan Stanley “overweight” recommendation // Motley Fool Australia
The Adore Beauty Group Ltd (ASX: ABY) share price will be one to watch following an “overweight” recommendation by broker Morgan Stanley.
The online beauty retailer first hit the radar of most ASX investors during its initial public offering (IPO) on 23 October.
On its first day of trading, Adore Beauty shares gained as much as 10% in intraday trading from the IPO price of $6.75, reaching $7.42 per share.
Shares were heading strongly higher in early morning trade today, up 2.0%, before the ASX shuttered its doors for as yet unexplained technical issues.
Despite that bounce, Adore Beauty’s share price remains down 11.6% since the closing bell rang on 23 October.
For comparison, the All Ordinaries Index (ASX: XAO) is up 4.9%…
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