Why RH Stock Rocketed to All-Time Highs Today

Shares of luxury furniture retailer RH (NYSE: RH), formerly known as Restoration Hardware, are rocketing higher today after the company reported results for its fiscal second quarter of 2020. Q2 net revenue was up less than 1%, which appears lackluster at first glance. But dig deeper and you'll find demand for the company's products is soaring, leading to much-improved profitability.

As of 10:30 a.m. EDT, RH stock was up 24% for the day -- spiking above $400 per share for the first time ever. It's been quite a year for the stock. After crashing more than 50% early in the year, it's gone on to trounce the market -- nearly doubling so far year to date.