There are a number of reasons why lipstick plant leaves are becoming wrinkly, including: 1.) Grown under low lighting conditions 2.) Wasn't given enough time to grow before being moved into new pots 3.) Had been overwatered 4.) Didn't have enough fertilizer added 5.) Received inadequate amounts of nutrients 6.) Was exposed to high temperatures 7.) Was placed near heat sources 8.) Was kept indoors without proper ventilation 9.) Was subjected to cold drafts