Why The RealReal Stock Rocketed by as Much as 25% in Early Trading Today
Shares of The RealReal (NASDAQ: REAL) took off like a rocket ship at the open on Nov. 9, gaining just shy of 25% in the first hour or so of trading. By roughly 11 a.m. EST the stock had given back a big chunk of that advance, however, and was sitting with a still robust price increase of about 15.5%. The news driving investors here was the company's third-quarter earnings update, which hit the market after the close of trading on Nov. 8.
The retailer, which bills itself as the world's largest online marketplace for authenticated, resale luxury goods, saw a 50% year-over-year increase in the value of the goods passing through its systems. The third-quarter 2021 number was also roughly 45% higher than the value seen in the third quarter of 2019, prior to the pandemic. The company handled about 38% more orders in the third quarter of 2021 than it did in 2020. The RealReal also made about 4% more per order on its site. So, more products and more money per order. Those are positive trends, which the company hopes will continue through the end of the year and into 2022.
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Source Fool.com
