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The Russell 2000 Index (RUT), a widely followed benchmark for small-cap companies, has been lagging the broader market’s advance over the past year. While the large cap-focused S&P 500 Index ($SPX) has gained 22.6% in the past 52 weeks, RUT is just 11.8% higher. Likewise, RUT is down more than 1% in 2024, compared to a 6.3% rally for the S&P.
However, one outperforming RUT component catching Wall Street’s eye is e.l.f. Beauty, Inc. (ELF). The stock has soared 22.6% on a YTD basis, substantially outperforming both broad-market benchmarks. Investors are buzzing about the cosmetic and skincare company, especially after its strong fiscal Q3 results and bullish analyst upgrades.
