Stock Market Analysis of Beauty Industry During COVID-19

ABSTRACT

COVID-19 has significant influence on the financial market. This paper aimed to explore the COVID-19 scenario analysis for stock market of beauty industry. Stock data of Estée Lauder Companies (EL), Revlon Inc. (REV) and Coty Inc. (COTY) is considered for this purpose. Deep learning models (LSTM and CNN) are utilized for the stock price prediction of beauty companies during COVID-19 era. LSTM and CNN, both the model worked well for the stock price prediction;however, LSTM performed better in all cases. Lockdown scenario along with the stock data is taken for the analysis purpose. Study shows that beauty industries got affected during initial spread of the virus, but now recovering. © 2022, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.