I give a hold rating for Coty Inc. (NYSE: COTY ) as I believe its issues in the US, weakening Consumer Beauty portfolio, and destocking cycle will continue to weigh on performance. Combined with a poorI’m a fundamental, valuation-driven investor with a strong focus on identifying businesses that have the potential to scale over time and unlock massive terminal value. My investment approach centers around understanding the core economics of a business—its competitive moat, unit economics, reinvestment runway ...