FRPT - Why Freshpet Stock Leapt 24% Higher in May
2024-06-04 18:27:00 ET
Shares of Freshpet (NASDAQ: FRPT) , the maker of fresh food for dogs and cats, were soaring last month after the company reported better-than-expected, first-quarter earnings, and pet stocks rallied more broadly, potentially signaling the end to a long slump in the industry.
As a result, the stock finished May up 24%, according to data from S&P Global Market Intelligence .
As you can see from the chart below, Freshpet stock jumped following the earnings report early in the month and then continued to gain from there.
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Why Freshpet Stock Leapt 24% Higher in May