Why Ollie's Bargain Outlet Stock Jumped Higher Today
Shares of discount-retail chain Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) jumped on Monday, after a prominent analyst offered some bullish commentary. This starkly contrasts with the song analysts were singing just weeks ago. And it's likely why Ollie's stock was up about 15% as of 2 p.m. ET.
On March 23, Ollie's reported financial results for 2021. Net sales were down 3% from 2020 despite an increase in the total number of Ollie's locations. And net income fell 35% to $158 million. These declines led the analyst community to downgrade its outlook for Ollie's stock.
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Source Fool.com