Zaid Admani

So again, this might be an overreaction by the markets.

I think this new research from Google might just be an excuse for investors to take profits after the massive run-up in these memory stocks over the past year.

Let's talk about some stocks making moves today.

Shares of the hair care company Olaplex are up more than 50% this morning after the German consumer goods giant Henkel announced that it's acquiring the company for $1.4 billion or $2.06 a share.

Now, if you aren't familiar with Olaplex, I'm pretty sure your girlfriend or your wife probably is.

This was the hair care brand that blew up on social media back in 2020 and 2021.

My wife was definitely obsessed with it for a minute.

And the company rode that hype all the way to an IPO in 2021 at a $13 billion valuation.

I'm telling you guys, 2021 was just so crazy that a shampoo company was valued at $13 billion.

But since then, the stock has been a disaster, losing more than 90% of its value.

See, competition flooded in, sales started to decline, and there were claims that some Olaplex products were actually causing hair loss.

So that's why Henkel is swooping in and buying the brand at a fraction of what it was once worth.

Now, moving on, let's talk about Snap.

Their shares are moving lower after the European Union opened a formal investigation into the company over child safety.

EU regulators are accusing Snap of having a weak age verification system

that's failing to keep kids under the age of 13 off the platform.

On top of that, regulators say that Snapchat's algorithm is also misclassifying teenagers aged 13 to 17 as adults and pushing them towards inappropriate content.

I mean, the EU is going as far as saying that children on the platform are being exposed to grooming by adults and can even purchase drugs, vapes, and alcohol through the app.

So these are pretty serious allegations.

So as a result, Snap stock is down around 2% this morning at the time of this recording.