Why Purple Innovation Stock Was Climbing Today
Shares of Purple Innovation (NASDAQ: PRPL), the direct-to-consumer mattress company, were climbing after it delivered better-than-expected results in its first-quarter earnings report, even though it lowered guidance for the year. As of 3:02 p.m. ET, the stock was up 7.2%.
Similar to other e-commerce and home-furnishings companies in the first quarter, Purple saw a decline in revenue as it lapped the last quarter before COVID vaccines became available to the general public.
Image source: Getty Images.
Source Fool.com