Ulta Beauty $ULTA stock has fallen -13% over the last 4 weeks as institutional investors dump consumer discretionary stocks.
Dark Pool Sell Order Detected In $ULTA Stock
On September 8, 2022, there was an unusually large dark pool trade in Ulta Beauty $ULTA stock.
The dark pool block order valued at $44 million seems like a large institutional investor reducing a long position but wanting to hide the trade over dark pools. The dark pool trade appears to be a sell order because of how $ULTA stock fell following the print.
A thesis emerges that institutional investors are selling consumer discretionary stocks as inflation and interest rates weaken the economy hikes. Cosmetics, fragrances, bath and body products, and skincare and haircare products will take a distant second place to shelter and food.
The largest shareholders in ULTA Beauty stock are Vanguard and Blackrock so the highest probability suggests it is one of these institutional investors reducing long positions.
Ulta CEO on inflation: We can weather what’s ahead of us
$ULTA Stock Technical Analysis
Ulta Beauty $ULTA stock is in a technical downtrend with the MACD and money flow both negative. These chart technicals suggest the downtrend will continue.