FNKO - Why Funko Stock Roared Back to Life on Monday
Left for dead by a great many investors late last week, Funko (NASDAQ: FNKO) stock experienced quite the revival on Monday. Shares of the POP! collectibles purveyor leaped nearly 30% higher on the day as bargain seekers piled into the company anew.
Funko had an awful Friday, with its shares plummeting a scary 59% after the company reported its third-quarter earnings . The highly specialized consumer goods company missed badly on its bottom line, an unforgivable sin for many investors.
In an even worse transgression, Funko made downward adjustments in guidance for both the entirety of 2022 and its current (fourth) quarter; uncomfortably, this is the quarter in which the winter holidays fall.
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Why Funko Stock Roared Back to Life on Monday