Why Is Rent the Runway (RENT) Stock Up 15% Today?


  • Rent the Runway (RENT) stock is up Friday after announcing its next earnings date.
  • The company will release its first-quarter 2024 results after markets close on June 6.
  • It will follow that up with a conference call that same day.
RENT Stock - Why Is Rent the Runway (RENT) Stock Up 15% Today?

Source: Wirestock Creators / Shutterstock.com

Rent the Runway (NASDAQ:RENT) stock is on the rise Friday after the company announced the date for its next earnings report.

Rent the Runway will release its first-quarter 2024 earnings report after markets close on June 6, 2024. The company will follow this up with a conference call starting at 4:30 p.m. Eastern that same day.

Investors will want to keep an eye on the company’s EPS and revenue during this earnings report. Wall Street is expecting it to report EPS of -$7.43 alongside revenue of $73.73 million.

Depending on how Rent the Runway performs on June 6, it could be a major catalyst for RENT stock. The real question is if it will be a positive or negative catalyst for the company’s shares.

RENT Stock Movement Today

RENT stock may also be catching the interest of meme stock traders today. The company’s float is only about 2.06 million shares and its short interest is sitting at 13.11%.

However, RENT stock also isn’t seeing heavy trading today. Only about 447,000 shares have been traded as of this writing. That’s still below its daily average trading volume of about 1.4 million shares.

RENT stock is up 15.3% as of Friday morning and is up 250.5% year-to-date.

There are more stock market stories worth reading about below!

We have all of the hottest stock market news ready to go on Friday! Among that is what’s going on with shares of Nuburu (NYSEMKT:BURU), Cracker Barrel (NASDAQ:CBRL) and Nio (NYSE:NIO) stock today. All of that news is available at the following links!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/05/why-is-rent-the-runway-rent-stock-up-15-today/.

©2024 InvestorPlace Media, LLC