Olaplex Holdings, Inc. shares fall 6.49% intraday after acquiring Purvala Bioscience.

Olaplex Holdings, Inc. declined 6.49% intraday, despite the company's recent acquisition of Purvala Bioscience, a biotech company focused on developing transformative bioinspired technologies. This acquisition marks OLAPLEX's first since its launch over ten years ago, demonstrating its commitment to product innovation. However, the market reaction suggests that investors may be concerned about the potential integration challenges or the financial implications of the acquisition.