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Why TheRealReal Stock Jumped Today

TheMotleyFool

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Why TheRealReal Stock Jumped Today: https://g.foolcdn.com/editorial/images/743542/shopping-for-clothes-online-2.jpg

Shares of TheRealReal (NASDAQ: REAL) were up 13.5% as of 2:48 p.m. ET on Wednesday after delivering better-than-expected earnings results in the second quarter.

Revenue was slightly below estimates, but the secondhand merchandise seller reported improving profitability that buoyed the stock.

Selling secondhand items online is a competitive market. In addition to a weak consumer spending environment, TheRealReal is competing with ThredUp, among several other marketplaces. The company said gross merchandise value fell 7% year over year in the second quarter, which dragged revenue down 15%, although this decline was mostly self-inflicted by steps to improve the company's profitability.

Source Fool.com

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