Here's Why Build-A-Bear Workshop Stock Skyrocketed to a 16-Year High Today
Shares of toy company Build-A-Bear Workshop (NYSE: BBW) skyrocketed on Thursday after the company reported record financial results for the second quarter. As of 9:50 a.m. ET today, Build-A-Bear stock was up about 19%. Earlier in the session, it was up even more and had briefly surpassed $30. For those keeping score, it was the first time the stock had been above $30 since 2007.
In the second quarter, Build-A-Bear's total revenue increased 8.5% year over year to a record $109 million. The company's profits were even better, with net income of $8.3 million. That was good for 43% growth and a 7.6% profit margin.
Build-A-Bear stock was left for dead at the start of the pandemic. But with results like these, it's easy to see why the stock is now up more than 1,200% over the last three years.
Source Fool.com
