BARK - Back-To-Back Announcements Had Traders Eager For This Stock

2024-03-05 15:39:58 ET

A New York-based small cap has already had quite the week and it’s only Tuesday! This particular stock has been on a tear, and both today’s and yesterday’s headlines are playing a huge part in it.

On Monday, it was announced that %Bark (NYSE: BARK) had received a notice from the New York Stock Exchange (the “NYSE”) on March 1, 2024 stating that the Company has regained compliance with the continued listing standards set forth in Section 802.01C (the “Minimum Stock Price Standard”) and will be removed from the NYSE’s noncompliant issuers list, according to the morning release. This headline was immediately followed up with Tuesday’s Jefferies’ upgrade as the institution placed a buy rating with a price target of $1.90/share.

Seeing that shares closed at just $1.24 yesterday, it’s no wonder that traders snatched shares of the small cap up to $1.46/share (+17.74%) at the session high.

BARK Inc is a dog-centric company, devoted to making dogs happy with the products, services, and content. It serves dogs nationwide with monthly subscription services, %Bark Box and Super Chewer; e-commerce experience on BarkShop.com; custom collections via its retail partner network, including Target and Amazon; wellness products that meet dogs' needs with BARK Bright; and a personalized meal delivery service for dogs BARK Eats.