Why ThredUp Stock Surged Tuesday Morning
Shares of ThredUp (NASDAQ: TDUP) turned sharply higher on Tuesday, surging as much as 21%. As of 1:42 p.m. ET, the stock was still up 21%.
The catalyst that sent the online seller of second-hand goods higher was an earnings report that, while mixed, was better than investors had feared.
ThredUp generated second-quarter revenue of $76.4 million, up 27% year over year, resulting in gross profit that climbed 19%. Unfortunately, the higher revenue growth did nothing to help the company's bottom line, as ThredUp reported a net loss that nearly doubled to $28.4 million, resulting in a loss per share of $0.29.
Source Fool.com
