Puig’s shares have dropped to new record lows following a major downgrade from Bank of America. The Spanish beauty and fashion powerhouse, which went public in May 2024, has seen its stock value tumble sharply since its IPO.
Bank of America Cuts Puig’s Rating
Bank of America recently downgraded Puig’s stock rating, sparking a significant sell-off. This downgrade comes after a rocky start for Puig on the stock market. Many investors had high hopes for the brand’s public debut, but the continued decline has raised concerns about its short-term prospects. 
What This Means for Investors
Puig’s drop signals growing uncertainty in the luxury and beauty market, particularly for new public companies. Analysts believe investor caution may continue unless Puig can stabilize its performance and restore confidence. The company’s next moves will be crucial as it navigates post-IPO challenges.
Sources:
FashionUnited
