Beauty Health Stock: Stock Overview and Outlook for 2022
Human nature is always seeking hope in a jar but in the skincare world, and Beauty Health stock appears to deliver. Let’s check it out.
The post Beauty…
What’s in a name? In the modern world, it’s hard to come up with a better name than The Beauty Health Company (Nasdaq: SKIN). Those two words represent two qualities to which virtually everyone aspires. Of course, human nature is always seeking hope in a jar but in the skincare world, the products behind Beauty Health stock appear to deliver. Recent Google trends for its primary product are at all-time highs.
The Beauty Health Company
Founded in 1997 as HydraFacial and headquartered in Long Beach, California, The Beauty Health Company calls itself “a global category-creating company focused on delivering beauty health experiences by reinventing our consumer’s relationship with their skin, their bodies and their self-confidence.”
In May 2021, HydraFacial merged with Miami-based Vesper Healthcare Acquisition Corp. to become The Beauty Health Company. Before the merger, HydraFacial was in the hands of the private equity healthcare firms Linden Capital Partners and DW Healthcare Partners. Both firms retain a significant stake in Beauty Health stock.
HydraFacial
The company is best known for the HydraFacial, a three-step product that invented the hydra dermabrasion category. In just 30 minutes, customers achieve a glowing complexion. HydraFacial is appropriate for all ages and skin types. Marketed worldwide through its patented Vortex-Fusion Delivery System channel, the HydraFacial is designed to deep clean, exfoliate and hydrate skin. The HydraFacial’s results are allegedly more dramatic than that of the standard facial. The procedure is now a favorite of med spa, wellness center, and dermatology clients. Currently, the product is available in over 90 countries. Approximately 21,800 Delivery Systems are installed to date.
On average, the HydraFacial costs between $199 to $300 depending on add-ons. That’s more expensive than the average facial, which runs around $150 for the basic variety. However, they recommend monthly treatments to combat oiliness, fine lines, brown spots and other perils to which the skin is heir. Annually, HydraFacial devotees may shell out $3,600 for the facials alone.
Superstar Jennifer Lopez is now on board with the HydraFacial x J Lo Beauty Booster . The product contains a “unique combination of potent ingredients including a tri-fermented essence, super antioxidants, and niacinamide which will leave skin plump, healthy-looking, and glowing like never before.” The HydraFacial x J Lo Beauty Booster will be available in the U.S. in September 2022.
People want more than beautiful skin, they also crave great hair. For scalp treatment, Beauty Health stock offers HydraFacial Keravive. As with the HydraFacial, Keravive involves a three-step process that cleanses hair follicles while removing oil, dirt and dead skin. It hydrates and nourishes via an optimized delivery of a proprietary blend of two skin proteins and five biomimetic growth factors. It also delivers daily scalp and hair follicle nourishment and stimulation, resulting in “healthier, thicker, fuller-looking hair.”
HydraFacial Syndeo
In March 2022, The Beauty Health Company launched HydraFacial Syndeo. This digital device aims to enhance the customer and provider experience. Beauty Health President and CEO Andrew Stanlieck says Syndeo positions the company to lead in the beauty health market. Syndeo, which means “connected” in Greek, applies technology and data for insights into preferences and trends, offering “the ultimate personalized experience.” In addition, gesture-controlled Syndeo provides automatic serum selection.
Beauty Health Stock
The pandemic wasn’t kind to companies providing services such as HydraFacial. Med spas and similar non-emergency medical facilities were closed for months or put into use treating COVID-19 patients.
In May 2021, after the merger, the company began to trade on the Nasdaq. In 2021, Beauty Health achieved net sales of $260.1 million.
On May 10, 2022, Beauty Health stock revealed its first-quarter 2022 financial results. Net sales increased by 58.4%, or $75.4 million, as compared to the first-quarter of last year. Delivery Systems’ net sales increased to $41.6 million in the first quarter of 2022, compared to $25.7 million in 2021’s first quarter. During this most recent quarter, 1,849 Delivery Systems were sold. This includes 258 trade-ups.
However, operating loss was $13 million in the first quarter of 2022, versus operating income of $2.4 million in the prior-year first quarter. Beauty Health attributes this to “reflecting continued investment in global infrastructure, people and systems to fuel future growth.”
The company reaffirmed its 2022 positive outlook. It raised its Fiscal Year 2022 sales guidance to a range of $330 to $340 million. That’s up from the previous $320 to $330 million outlook. The company’s market cap is $1.8 billion.
At present, Beauty Health stock does not pay a dividend. As of May 24, its 52-week low-to-high range is $9.95 to $30.17. Additionally, Beauty Health stock closed at $11.94 on that date.
Beauty Health Stock Considerations
The future of Beauty Health stock involves the company’s ability to execute its strategic plan for the rest of the year and 2023. For example, these plans include its focus on placing new Delivery System units and growing in the underpenetrated U.S. market. In the latter part of 2022, the company plans to continue its international expansion.
Bitcoin is taking a breather after this week’s strong rally, but select altcoins may be getting ready to breakout over the next few days.
Bitcoin (BTC) has been trading above $33,600 for the past two days, indicating that the bulls are not rushing to the exit. After a sharp rally, if the price does not give up much ground, it may cause FOMO and ignite another round of buying.
That could push the markets further into overbought territory. However, such rallies are rarely sustainable. They eventually turn down and retest the breakout levels. Hence, Bitcoin’s drop to $32,000 can not be ruled out.
The rally of the past few days pushed Bitcoin’s dominance to 54%, its highest level in 30 months. The rise in market dominance shows that Bitcoin is leading the charge higher, which is a positive sign. This suggests that traders are favorably viewing the cryptocurrency space and select altcoins may join the party soon.
Veteran trader Peter Brandt said in a post on X (formerly Twitter) on Oct. 26 that Bitcoin’s bottom is in but he warns that new all-time highs may not happen until the third quarter of 2024. Meanwhile, Brandt predicts Bitcoin to enter a “chop fest.”
Will Bitcoin enter a corrective phase over the next few days or continue its upward march? Will altcoins join the party higher?
Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin is facing resistance at $35,000 but the bulls have not given up much ground. This suggests that the buyers may soon try to resume the up-move.
The risk to a further rise is that the relative strength index (RSI) remains in the overbought area. This indicates the possibility of a minor correction or consolidation in the near term. If the price slides below $33,679, the BTC/USDT pair could retest $32,400 and then $31,000.
However, it is not certain that the overbought levels on the RSI will cause a correction. Sometimes, during a trend change from bearish to bullish, the RSI tends to remain in overbought territory for a long time. That is because the smart buyers continue to accumulate on every intraday dip.
In this case, if the price turns up from the current level and breaks above $35,280, it will signal the start of the next leg of the uptrend. The pair may then skyrocket to $40,000.
Ether price analysis
Ether’s (ETH) long wick on the Oct. 26 candlestick shows that the bears are aggressively protecting the minor overhead resistance at $1,855.
The rising 20-day EMA ($1,674) and the RSI near the overbought zone indicate that bulls have the upper hand. If the price turns up from $1,746, the bulls will again try to shove the ETH/USDT pair above $1,855. If this level is surmounted, the pair may skyrocket toward the psychologically important level of $2,000.
If bears want to prevent the up-move, they will have to quickly send the price back below the breakout level of $1,746. The pair may then tumble to the 20-day EMA.
BNB price analysis
BNB (BNB) turned down from $235 on Oct. 24, indicating that the bears are active at this level. The sellers tried but failed to sustain the price below the strong support at $223.
This indicates that buyers are fiercely attempting to defend the support at $223. If the price rebounds off this level with strength, the BNB/USDT pair could once again try to rise above the overhead resistance at $235. If that happens, the pair may climb to $250 and subsequently to $265.
Contrarily, if the price once again turns down from $235, it will suggest that bears continue to sell at higher levels. A slide below $223 will tilt the advantage back in favor of the bears. The pair may then oscillate between $203 and $235 for a while longer.
XRP price analysis
XRP (XRP) has been witnessing a tough battle between the bulls and the bears near the overhead resistance of $0.56.
The bears are trying to pull the price to the 20-day EMA ($0.52) which is an important level to keep an eye on. If the price sharply rebounds off this level, it will suggest that every minor dip is being bought. The bulls will then again try to kick the price above $0.56.
If they succeed, it will signal the start of a new up-move. The XRP/USDT pair could then soar to $0.71. This positive view will be negated in the near term if the price turns down and plunges below the 50-day SMA ($0.51). That will indicate a range-bound action between $0.46 and $0.56 in the near term.
Solana price analysis
Solana (SOL) has been trading near the pattern target of $32.81 for the past few days. The bulls have not ceded ground to the bears, indicating that they anticipate another leg higher.
The RSI remains in the overbought zone, indicating that the SOL/USDT pair may spend some more time in consolidation or witness a minor dip. If the price stays above $30, the possibility of a rally to $38.79 increases.
On the other hand, if the price skids below $30, the bears will attempt to yank the price to the 20-day EMA ($27.20). If this support gives way, it will signal that the sellers are back in the game.
Cardano price analysis
Cardano (ADA) has been trading above the $0.28 level for the past few days but the bulls haven’t been able to start a strong relief rally.
Buyers tried to start a new up-move on Oct. 26 but the bears sold at higher levels as seen from the long wick on the candlestick. Encouraged by this, the sellers will try to tug the price back below the breakout level of $0.28. If they can pull it off, the ADA/USDT pair may slump to the 20-day EMA ($0.26).
Instead, if the price turns up from $0.28 and rises above $0.30, it will signal that the bulls have flipped the level into support. The pair may then start its northward march toward $0.32. This level may act as a stiff barrier but if cleared, the next stop is likely to be $0.38.
Dogecoin price analysis
Dogecoin (DOGE) has been in a strong recovery for the past few days, indicating aggressive buying by the bulls.
Buyers pushed the price above the nearest resistance of $0.07 on Oct. 26 but the long wick on the candlestick shows selling at higher levels. The bears are trying to pull the price back below $0.07 on Oct. 27. If they succeed, the DOGE/USDT pair could slide to the 20-day EMA ($0.06).
On the contrary, if the price turns up from $0.07, it will suggest that the sentiment has turned positive and every minor dip is being purchased. That could propel the price to $0.08.
That may have attracted selling by the bears who have dragged the price back below the moving averages on Oct. 27. The TON/USDT pair may slide to the crucial support at $1.89. Such a move will suggest that the pair may consolidate between $1.89 and $2.31 for a few days.
Contrary to this assumption, if the price turns up sharply from the current level, it will indicate that the bulls are buying on minor dips. That will improve the prospects of a break above $2.31. The pair may then surge to $2.59.
Chainlink price analysis
Chainlink (LINK) has been facing selling near the $11.50 mark as seen from the long wick on the candlesticks of the past few days.
A minor positive is that the bulls have not given up much ground. This suggests that the buyers are in no hurry to book profits as they anticipate the uptrend to continue. Sometimes, when an asset breaks out from a long consolidation, it may remain in the overbought zone for an extended period. That is a possibility with the LINK/USDT pair.
The important support to watch on the downside is $9.50 and then the 20-day EMA ($8.97). Buyers are expected to defend this zone with vigor.
Polygon price analysis
Polygon (MATIC) broke above the $0.60 resistance on Oct. 22 but the bulls are struggling to maintain the up-move. This suggests hesitation to continue buying at higher levels.
The important level to watch on the downside is $0.60. If the price rebounds off this level with strength, it will signal that the bulls have flipped $0.60 into support. That will increase the likelihood of a break above $0.67. The MATIC/USDT pair may then soar to $0.77.
Meanwhile, the bears are likely to have other plans. They will try to sink the price back below the breakout level of $0.60. If they do that, several aggressive bulls may get trapped and the pair may plummet to the 20-day EMA ($0.57).
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router issued a joint statement criticizing the new token.
A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router on October 27 called the token’s standard “a vendor-locked proprietary standard,” claiming that it limits the freedom of token issuers.
The protocols claimed in their joint statement that LayerZero’s new token is “a proprietary representation of wstETH to Avalanche, BNB Chain, and Scroll without support from the Lido DAO [decentralized autonomous organization],” which is created by “provider-specific systems […] fundamentally owned by the bridges that implement them.” As a result, it creates “systemic risks for projects that can be tough to quantify,” they stated. The protocols advocated for the use of the xERC-20 token standard for bridging stETH instead of using LayerZero’s new token.
Lido Staked Ether (stETH) is a liquid staking derivative produced when a user deposits Ether (ETH) into the Lido protocol for staking. On October 25, LayerZero launched a bridged version of stETH, called "Wrapped Staked Ether (wstETH)" on BNB Chain, Avalanche, and Scroll. Prior to this launch, stETH was not available on these three networks.
Since any protocol can create a bridged version of a token, LayerZero was able to launch wstETH without needing the approval of Lido’s governing body, LidoDAO. In addition, both BNB Chain and LayerZero announced the token’s launch on X (formerly Twitter), and BNB Chain tagged the Lido development team in its announcement. Members of LidoDAO later claimed that these actions were an attempt to mislead users into believing that the new token had support from the DAO.
On the same day that LayerZero launched wstETH, they proposed that LidoDAO should approve the new token as the official version of stETH on the three new networks. They offered to transfer control of the token’s protocol to LidoDAO, relinquishing LayerZero’s administration of it. In response, some LidoDAO members complained that this move was intended to create a fait accompli to pressure the DAO into passing the proposal when they otherwise wouldn’t have.
“There appears to have been a coordinated marketing effort between Avalanche, BNB, and LayerZero with a series of twitter posts and slick videos implying that LidoDAO has already officially accepted the OFT standard,” LidoDAO member Hart Lambur posted to the forum, adding “How is this possible when this is just a proposal?”
Some members also argued that the new token could pose security issues. “Layer Zero is a super centralized option that exposes Ethereum’s main protocol to an unprecedented catastrophe,” LidoDAO member Scaloneta claimed, arguing that a hack in the protocol’s verification layer “would imply that infinite wsteth will be minted.”
Cointelegraph reached out to the LayerZero team for comment through Telegram and email, but did not receive a response by the time of publication. In April, LayerZero raised over $120 million to help build more cross-chain functionality into the Web3 ecosystem and partnered with Radix to bring cross-chain functionality to the Radix Babylon network.
JMIR Neurotechnology, published by JMIR Publications, welcomes submissions from researchers, clinicians, caregivers, and technologists that explore novel…
JMIR Neurotechnology, published by JMIR Publications, welcomes submissions from researchers, clinicians, caregivers, and technologists that explore novel diagnostic and treatment tools for neurological disorders, particularly those leveraging the potential of neurotechnology.
Credit: JMIR Publications
JMIR Neurotechnology, published by JMIR Publications, welcomes submissions from researchers, clinicians, caregivers, and technologists that explore novel diagnostic and treatment tools for neurological disorders, particularly those leveraging the potential of neurotechnology.
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