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Key Points
- Sue Nabi’s 3.7% stake in Coty Inc. climbed by $6.69 million in nine days as the company’s shares gained strength.
- Coty’s stock rose 3.84% to $5.68, boosting its market value above $4.96 billion amid renewed investor confidence.
- Despite recent gains, Coty’s stock is still down 17.2% in 2024, reflecting ongoing challenges in the beauty industry.
Algerian-born French entrepreneur and business executive Sue Youcef Nabi has seen the value of her stake in Coty Inc. climb by more than $20 million in the past six days, fueled by a surge in the beauty company’s shares on the New York Stock Exchange.
Nabi holds a 3.7 percent stake in Coty, totaling 31.88 million shares. As of Jan. 10, her holdings are worth $229.44 million. Over the past nine days, the value of her stake has increased by $6.69 million as the company’s stock gains strength, reflecting growing investor confidence.
This rebound comes after a sharp drop between Jan. 27 and Feb. 19, when her stake fell by $64.05 million, from $242.51 million to $178.46 million.
Coty shares rise 3.84 percent, market cap hits $4.96 billion
Coty, the American multinational beauty company founded in 1904 by François Coty has evolved into a global powerhouse in the fragrance industry, it holds the second-largest market share in hair color and styling products and is the third-largest in color cosmetics.
In recent times, Coty’s stock price on the New York Stock Exchange has increased by 3.84 percent, rising from $5.47 on March 3 to $5.68 at the time of drafting this report. This uptick has pushed the company’s market value past $4.96 billion.
Coty’s rebound lifts Sue Nabi’s stake
The recent rise in Coty’s share price on the NYSE has lifted the value of Sue Nabi’s stake from $174.31 million to $181 million, adding millions of dollars to her wealth and benefiting other shareholders as well.
Even with the rebound, Coty’s stock is still down 17.2 percent this year, highlighting the challenges facing the beauty industry. A $100,000 investment in the company at the start of the year would now be worth $82,800, reflecting a $17,200 loss.
Still, the recent gains have renewed investor confidence in Coty’s long-term prospects as it works to strengthen its position in the competitive beauty market.
