LOVE - Why Did The Lovesac Company Go Up 53.5% in May?
The Lovesac Company (NASDAQ: LOVE), maker of modular sectional furniture and beanbag chairs, saw a share price increase of 53.5% in May according to data provided by S&P Global Market Intelligence.
Investors were cheered by performance information imparted during the fourth-quarter 2020 earnings conference call on April 16. Lovesac shares began to rise following the earnings release and continued upward in May.
Showrooms closed on March 17, and data through April 12 showed e-commerce point of sale (POS) transaction dollars up over 400%, with total POS dollars up 3.6% versus the same period in 2019, which included showroom sales.