LESL - Why Leslie's Stock Skyrocketed Today
2024-05-09 15:25:05 ET
Shares of swimming-pool retail chain Leslie's (NASDAQ: LESL) skyrocketed on Thursday after the company reported financial results for its fiscal second quarter, and after management said that it's on track to meet its full-year goals. As of 1:30 p.m. ET today, Leslie's stock was up 17%.
Without context, most investors wouldn't expect Leslie's stock to be up today. Sales of $189 million were down 11% year over year, and it had a net loss of almost $35 million -- hardly the kind of numbers one would expect to make shares rise.
However, the pool business has a definite season, and Leslie's makes most of its money in the back half of its fiscal year. So investors are accustomed to focusing on guidance and the company's positioning.
For further details see:
Why Leslie's Stock Skyrocketed Today