Up nearly 1,200% since its initial public offering in 2007, Ulta Beauty (NASDAQ: ULTA) has quadrupled the total returns of the S&P 500 Index over that time. Powered by its sales rising by more than 13 times since 2007, Ulta quickly became the largest specialty beauty retailer in the United States. While this significant drop in share price over a few months is worrisome, I believe this overreaction may present an opportunity for investors focused on holding for decades.
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