ATER - Aterian soars 42% after guidance impresses

Aterian ( NASDAQ: ATER ) was the biggest gainer in the consumer sector on Tuesday with a 41.50% gain as of 2:30 p.m.

The rally was enough to put Aterian ( ATER ) back over $1.00 for the first time since early December. Volume on ATER was over 26M shares vs. the normal daily average of just 1.1M shares. Aterian still trades far short of its 52-week high of $7.26. Short interest on Aterian is elevated at 13% of total float, which may have contributed to the volatility spike.

New York-based Aterian ( ATER ) caught fire after Q4 guidance came in ahead of expectations. The consumer products company also reiterated that it is on a path to achieving adjusted EBITDA profitability in the second half of 2023.

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