TDUP - ThredUp rallies after investor conference appearance boosts sentiment

ThredUp (NASDAQ:TDUP +7.9%) soared in Wednesday trading in a move being attributed by an appearance by the retailer's execs at a William Blair conference. William Blair reiterated an outperform rating on TDUP after pointing to "sustainable" strong top-line dynamics with room for upside. A higher level of repeat spending with TDUP customers and the clear competitive positioning were also noted as potential share price drivers. William Blair was also encouraged with TDUP taking a renewed focus on its long-term path to profitability to end a long period of heavy capital investment. TDUP traded as high as $4.35 earlier in the session. Shares of the online retailer are still showing a year-to-date loss of more than 65%. Sector watch: Apparel resale market forecast is forecast to boom in next few years.

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ThredUp rallies after investor conference appearance boosts sentiment