During a recent television episode, financial commentator Jim Cramer addressed a question about e.l.f. Beauty, Inc. stock. A caller asked whether to hold the shares or take profits.
Cramer stated that the stock has faced difficulties. He attributed much of this to confusion regarding Chinese manufacturing. He suggested that if the Supreme Court overturns certain tariffs, the stock could rise significantly.
"Okay, the stock's been troubled, and a lot of that I think is because people are confused about the Chinese, with the manufacturing," Cramer said. "Let's do this. If you get a tariff overturn from the Supreme Court, this stock's going to go up 25 points. Let's just hold on to it for now because I think it's actually reflecting some of the weakness that I don't even think is there anymore. I think Tarang Amin is terrific."
The episode aired on November 21, 2025. e.l.f. Beauty sells cosmetics and skincare products under brands including e.l.f. Cosmetics and Naturium.
Cramer later expanded on his view in the same broadcast. He noted that the question had come up previously in discussions.
"Okay, you know, someone asked me about this last night, and they said, what do you think?" Cramer remarked. "I'm out there talking to a lot of people, and I said, you know what? This one's gotten too hard for me. Look, I know I like Tarang Amin. I backed him the whole way, but it's just become one of those stocks that's [got] a tariff problem, and the short interest is really big. And right now, I think it's low, but I'm afraid literally that I will get my head blown off if I say this is the level to buy it."