Shares of e.l.f. Beauty (NYSE: ELF) fell 39.4% in 2025, reflecting a 60% decline from all-time highs, due to slowing growth despite its recent acquisition. The company, known for its affordable beauty products, has faced stagnation in revenue growth after previously capturing market share in categories like lip gloss and eyeliner. This combination of premium earnings multiples and diminishing growth prospects contributed to the stock’s poor performance.
