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Purple Innovation Stock Is Soaring 12% Today

TheMotleyFool

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Purple Innovation Stock Is Soaring 12% TodayPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png

Shares of Purple Innovation (NASDAQ: PRPL) were jumping over 12% in midday trading after the bedding maker posted higher than expected sales and profits.

Considering the ruined state of retail these days due to the COVID-19 pandemic, Purple's ability to grow sales 46% in the first quarter, generating a 140% increase in net profit, is a remarkable achievement.

Image source: Getty Images.

Source Fool.com

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