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Why Ulta Beauty Stock Plunged Nearly 26% in May

Why Ulta Beauty Stock Plunged Nearly 26% in May

Shares of cosmetics retail chain Ulta Beauty (NASDAQ: ULTA) plunged 25.7% in May, according to data provided by S&P Global Market Intelligence. The largest piece of Ulta Beauty's decline came on May 25, when it reported results for its fiscal 2023 first quarter, which ended April 29. Contributing to the decline was commentary from Rupesh Parikh of Oppenheimer.