Jonathan Knowles/DigitalVision via Getty Images Introduction & Investment Thesis I last wrote about e.l.f. (NYSE:ELF) in June, where I reiterated my "buy" rating with my thesis that there is plenty of whitespace in the company's cosmetics and skin care category as it drives robust product innovation at compelling price points with buzzworthy marketing to attract and retain its users both digitally and in its retail locations in the US and internationally. Although the stock initially climbed, it has since d ...