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I would say most likely yes. Make sure it's getting enough flow. You can help it along with a turkey baster, but I have had many that appeared like this for weeks at a time. They've always come back looking better then before for me. If there is nothing wrong in your tank I would not be concerned. If you're unsure might be good to run some water tests.
A day is way too soon to be worried. Did it look like this in store? I would just leave it alone and see what happens. If it had been weeks or months I'd be more worried but at this point it's too early to tell. They are relatively bulletproof corals even if they are temperamental.

