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Why Soho House Stock Was Up on Friday

TheMotleyFool

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Shares of Soho House (NYSE: SHCO) beat the market early Friday, rising 14% by 11:30 a.m. ET. The S&P 500 was flat during that time. The increase added to a great year for shareholders. The membership platform specialist is up over 80% so far in 2023, while the broader market is up 16%.

Friday's rally came after the company announced fiscal second-quarter earnings results that pleased investors with strong metrics in areas like sales and profitability.

Membership levels rose to 248,000 in the selling period that ran through early June, which translates into a 28% increase. Executives said the private platform's waiting list is at an all-time high in another indication of strong demand.

Source Fool.com

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