The RealReal Inc is a luxury consignment platform that specializes in the resale of authenticated high-end fashion items, including designer clothing, accessories, and jewelry
The company connects buyers and sellers in a marketplace that emphasizes sustainability and the circular economy, allowing consumers to buy pre-owned luxury goods at reduced prices while enabling sellers to earn money from their unused items. By employing a team of experts who authenticate and appraise merchandise, The RealReal ensures the quality and authenticity of its offerings, creating a trusted environment for both buyers and sellers in the luxury resale market.
What a time it’s been for The RealReal. In the past six months alone, the company’s stock price has increased by a massive 189%, reaching $9.36 per share. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
Shares of secondhand luxury marketplace The RealReal (NASDAQREAL)
jumped 39.4% in the morning session after a Wells Fargo analyst upgraded the stock's rating from Equal Weight (Hold) to Overweight (Buy) and bumped the price target from $4 to $15. The analyst credited the upgrade to the company's improved focus on profits under new leadership. Key factors driving the change included higher profit margins from a revamped consignment fee structure and less dependence on low-margin direct sales. The analyst thinks the recent debt overhaul also lowered financial risks, setting the stage for the company to generate positive free cash flow by 2025.
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Shares of secondhand luxury marketplace The RealReal (NASDAQREAL)
jumped 18.4% in the morning session after the company reported a "beat and raise" quarter. Third-quarter earnings blew past analysts' Gross Merchandise Value (GMV), revenue and EBITDA expectations. Volumes increased year on year, exceeding expectations and making up for the shortfall in buyer count.
Its full-year EBITDA guidance also exceeded Wall Street's estimates. Overall, this was a strong quarter.
Secondhand luxury marketplace The RealReal (NASDAQREAL) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 11% year on year to $147.8 million. Guidance for next quarter’s revenue was optimistic at $161.5 million at the midpoint, 2.3% above analysts’ estimates. Its non-GAAP loss of $0.09 per share was also 12.9% above analysts’ consensus estimates.
Michael Burry, the investor renowned for his prescient bet against the housing market before the 2008 financial crisis, has seen his recent wager on Chinese stocks pay significant dividends.
Key Takeaways: ATRenew posted strong revenue growth in the second quarter and predicted similar trends in the third, as it banks on rising demand from value-conscious consumers The recycling specialist is placing greater emphasis on its higher-margin businesses, which it is pursuing partly through growing ties with partners Apple and JD.com
Famed investor Michael Burry, known for his prescient bet against the housing market before the 2008 financial crisis, has made significant changes to his hedge fund's portfolio in the second quarter of 2024.
Key Takeaways: ATRenew posted strong first-quarter revenue growth and predicted similar gains in the second quarter as China steps up a recent recycling campaign The company’s stock has more than doubled from an early February low, part of a broader recent rally for U.S.-listed Chinese companies By Doug Young
