Michael Burry Stock Portfolio: Top 8 Stock Picks

6. Olaplex Holdings, Inc. (NASDAQ:OLPX)

Scion Asset Management’s Stake Value: $2.35 Million

Number of Hedge Fund Holders: 18

Olaplex Holdings, Inc. (NASDAQ:OLPX) is a specialty retailer that develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for treatment, maintenance, and hair protection. The stock has been under pressure, going by the 34% selloff in 2024, as the company faced a challenging landscape hurt by high inflation levels.

Nevertheless, Olaplex Holdings, Inc. (NASDAQ:OLPX) succeeded in maintaining high gross margins of 71%, even with revenues declining by 9% in the past 12 months. The beauty and personal care sector is still undergoing changes as a result of shifting consumer tastes, new technology, and heightened competition. Consequently, the company operates in an industry where growth and market share depend on innovation and brand loyalty.

Olaplex Holdings, Inc. (NASDAQ:OLPX) is in the process of releasing a thorough long-term roadmap and future vision. The strategic plan will cover consumer trends and market opportunities that Olaplex Holdings can take advantage of because of its innovative products and strong brand. It is anticipated that these actions taken together will increase its market share.