To The Moon

The illusion of a rise has been shattered. 1 I was thinking of taking a vacation on Labor Day, but when I saw $Estee Lauder(EL)$ release earnings, I lost my nerve. The company cut its full-year profit forecast, with sales growth slowing to 7-9% from 13%-16%. Adjusted profit for the full year was $7.05 to $7.15 a share, compared with an earlier estimate of $7.43 to $7.58. Shares fell 10 per cent in pre-market trading after the results were released. In August 2020 earnings were down 6.7%. Estee Lauder said the lower sales forecast was mainly due to COVID-19 restrictions and the dispute between Russia and Ukraine. It is a very intuitive reflection of how serious the supply chain disruption caused by the epidemic and the Russia-Ukraine problem is. From