Why Bark Stock Soared on Tuesday

Shares of Bark (NYSE: BARK) surged higher on Tuesday, adding as much as 31%. As of 3:16 p.m. ET, the stock was still up 29.4%.

The catalyst that sent the pet-focused omni-channel retailer soaring was better-than-expected preliminary results and news that one of the company's founders would be returning to the helm.

In a regulatory filing on Tuesday, Bark announced that Co-Founder and Executive Chair Matt Meeker would resume the role of CEO, effective immediately. Incumbent CEO Manish Joneja resigned in order to "remain closer to his family" but will serve as an advisor to the company through April "to ensure a smooth transition." 

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Source Fool.com