Why Xponential Fitness Stock Jumped on Friday
Xponential Fitness (NYSE: XPOF) investors beat the market on Friday as shares jumped 20% by 1:30 p.m. ET, compared to a 1.1% boost in the S&P 500. The increase pushed the stock near positive results for the full year even as the broader market is down 11%.
It was sparked by good news about demand for its boutique fitness brands.
In a press release before the market opened, Xponential detailed its latest operating results for the selling period that ran though late June. While investors were worried that demand might have slowed as consumers pulled back spending on fitness memberships, that's not what happened. Instead, Xponential posted a 66% sales increase.
Source Fool.com
