Why Arhaus Stock Gained a Massive 30% at the Open Today
Shares of fast-growing home furnishings retailer Arhaus (NASDAQ: ARHS) rose sharply at the open on Thursday, gaining as much as 30% in the first few minutes of trading. The stock didn't hold on to that gain for long, but was still up a huge 24% or so an hour into the day.
The big news was the company's second-quarter earnings release, which hit the market before the start of the trading day.
Arhaus reported year-over-year sales growth of 66.4% in the second quarter. The company held its initial public offering (IPO) in late 2021, so the comparisons here aren't exactly clean.
Source Fool.com
