Why 1-800-Flowers.com Stock Rallied 8% and Then Tumbled 13% Today
Shares of online retailer 1-800-Flowers.com (NASDAQ: FLWS) opened the trading day soundly in positive territory, gaining as much as 8%. But shortly thereafter they started falling, dipping as much as 13% in the 2 p.m. EST hour. By 3:30 p.m., the shares were still deeply in the red, off by about 9%. From peak to trough the stock moved more than 20% today, which is a pretty big swing.
There was one notable event here today, with 1-800-Flowers.com posting fiscal second-quarter 2021 earnings. The numbers were pretty impressive, with the top line advancing some 45% year over year and earnings up by more than 50%. Leading the way was the company's online commerce operations, where sales increased just a hair shy of 60%. The $1.71 per share in quarterly earnings also handily beat the Wall Street consensus of $1.39. The online retailer had a good quarter just about any way you look at it.
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Source Fool.com
