Here's Why Trex Stock Surged 20% Today
Shares of Trex Company (NYSE: TREX) surged on July 30, following the company's second-quarter earnings release and conference call after trading hours on July 29. Shares opened up more than 10%, and steadily marched higher all morning before briefly touching a 20% gain around 1 p.m. EDT.
Trex reported sales of $206 million and adjusted earnings of $0.64 per share, both of which came in relatively close to analyst expectations. While Wall Street analyst estimates aren't a reliable guide to a company's results, they often play a big role in how investors react to a company's results.
Image source: Trex.
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