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Why CPI Card Group Stock Soared 21% Today

TheMotleyFool

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Shares of CPI Card Group (NASDAQ: PMTS), the tiny company that probably manufactured half the retail credit cards in your wallet today, jumped 21.5% through 11:45 a.m. ET Tuesday morning after crushing analyst targets for second-quarter earnings.

Which is not to say those estimates had a lot of structural integrity to begin with.

Heading into Q2, analysts had forecast a steep 37% decline in net income for CPI, from $0.52 per share a year ago, to just $0.33 in Q2 2023, as profits suffered from a 9% slump in sales. But here's the thing: The sales slump didn't happen.

Source Fool.com

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