Taiwan's virtual beauty brand struggles on Wall Street debut | CNN Business

Shares of Perfect Corp., a software company that allows users to virtually try on makeup or jewelry from brands such as Estée Lauder, LVMH and Shiseido, have fallen more than 40% from their listing price since they began trading on the New York Stock Exchange a week ago. Perfect Corp. lends its technology to beauty and fashion brands. It uses augmented reality and artificial intelligence to help users test products online before they buy them.

Cs are shell companies with limited or no operating assets. They usually go public solely to raise money from investors that is then used to buy existing businesses. Daniel Ives, managing director and senior equity analyst of Wedbush Securities, said investors could be cautious about Perfect Corp. because “in a risk-off market, an augmented reality play with Taiwanese roots is a glass-half-empty name.

C merger to expand in Southeast Asia, fund research and development, and double down on new capabilities of its technology, such as letting users try on accessories beyond jewelry. “We just joined jewelry, fashion,” she said. “This is just the beginning.” Perfect Corp. is part of the software-as-a-service industry. The firm now has offices in cities around the world, including New York, Paris, Tokyo and Shanghai, and caters to more than 450 brands, said Chang. It brought in $40.

C, raising at least $335 million in cash at the time. Its shares are down 68% so far this year.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street Journal: Meta is planning significant layoffs | CNN BusinessFacebook-parent Meta is planning the first significant layoffs in its history as the company grapples with a shrinking business and fears of a looming recession, according to the Wall Street Journal. Well that's what they get for censoring conservative voices. In 2021 I was 'fact checked' for posting a joke about the election. Seriously another one Happy for employer
Source: cnni - 🏆 326. / 59 Read more »

How the midterms could affect Wall Street | CNN BusinessLast week was a volatile one on Wall Street, with stocks falling after Federal Reserve chair Jerome Powell dashed the market's dreams of a pivot and suggested that more big rate hikes are likely coming. But Wall Street is still turning its hopes to Washington.
Source: CNN - 🏆 4. / 95 Read more »

Asia stocks resilient as Wall Street slips, China trade disappointsU.S. stock futures and commodities slipped in Asia on Monday after Beijing denied it was considering easing its zero COVID-19 policy, though resilience in Asian equities took some of the sting out of the selling.
Source: Reuters - 🏆 2. / 97 Read more »