Olaplex jumps 50.2% on Henkel's $1.4 billion buyout

Shares of hair care brand Olaplex OLPX.O rise 50.2% to $2 in premarket trading

Co on Thursday said it had agreed to be acquired by Germany's consumer goods maker Henkel HNKG.DE in a deal valued at $1.4 billion

Before the pre-market rally, OLPX shares were down ~0.7% YTD, outperforming the Nasdaq .IXIC which has fallen 5.6% in the same period

Olaplex has a current market value of $890.3 million, according to Reuters calculations

10 analysts rate the stock "Hold" on average; median PT is $1.88 - data compiled by LSEG

As of last day's close, stock down 0.74% YTD