Ulta Beauty shares drop 20% YTD despite strong sales, creating a value buying opportunity.

Ulta Beauty's stock has fallen about 20% year-to-date, even though the company continues to show strong sales growth and gains in market share. This decline is largely due to investors rotating capital away from mega-cap tech stocks, which has left retail stocks like Ulta undervalued compared to their fundamentals. The current low share price contrasts with Ulta's solid business performance, suggesting a potential value investment opportunity for contrarian investors. The article highlights this disconnect as a reason to consider buying Ulta shares while they are discounted.