Why Build-A-Bear Workshop Stock Rocketed 20% Higher at the Open Today
Shares of teddy bear retailer Build-A-Bear Workshop (NYSE: BBW) took off at the start of trading on Dec. 1, rising by as much as 20% in the first hour of the session. There's little question about what drove investor enthusiasm here; the company reported impressive third-quarter 2021 earnings results this morning. Here's a quick look at the business and the numbers.
Build-A-Bear Workshop has a unique model, in which it turns buying a teddy bear into an interactive experience. Essentially, consumers (both kids and adults) make their own bears in the company's stores. That, however, was not such a great business approach in 2020, when the coronavirus pandemic led to economic shutdowns and social distancing. With stores reopened, however, Build-A-Bear's business has rebounded in 2021 -- and that's kind of understating it.
Image source: Getty Images.
Source Fool.com