SLQT - Strong Open Following Earnings Release

2023-09-13 10:11:08 ET

A Kansas-based insurance company was finding tremendous success during Wednesday’s premarket hours following the company reporting Q4 earnings for fiscal year 2023. One key highlight of the release was the company boasting a staggering $221.8 million of revenue.

Traders were eager to get things going early leading up to the bell, bidding up shares of %SelectQuote (NYSE: %SLQT ) quite a bit. The stock eventually opened at $1.47/.share (+8.09%), which is a strong continuation of last week’s bounce.

SelectQuote Inc is a Direct-to-consumer (DTC) distribution platform which facilitates consumers to shop for health, life and auto & home insurance policies online. The company generates its revenues by selling insurance products on behalf of the insurance carrier partners in the form of commission. It functions through three lines namely, SelectQuote Senior, SelectQuote Life, and SelectQuote Auto & Home.