LOVE - 3 Reasons to Love Lovesac Stock This Week

2023-06-05 11:45:00 ET

One of the more interesting companies reporting fresh financials during this otherwise quiet week for earnings is Lovesac (NASDAQ: LOVE) . The furniture maker initially became known for plush luxury beanbag chairs that can be big enough to seat an entire young family. It then scored a hit with premium-priced next-generation sectionals that have home theater equipment buried comfortably in the cushions. Lovesac will announce its fiscal 2024 first-quarter results on Wednesday morning.

Lovesac isn't likely on your investing radar. It certainly isn't on Wall Street's radar. Lovesac hasn't been an active participant in this year's rally for growth stocks. The shares are barely above where they were at the beginning of the year, and a painful 76% off the all-time high they hit two springtimes ago.

This could be a good time to start paying attention. The stock has been volatile following earnings reports, and there are a few reasons why Lovesac could make waves this time around.

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