Lulu’s Fashion Lounge Holdings Inc. (NASDAQ:LVLU) stock has seen an increase in the pre-market session. The stock’s value has risen by 51.38% to $6.60.
Check out how LVLU stock is trading here.
What Happened: The surge in LVLU’s stock value comes after the regular trading session closed at $4.36 after an 11.70% surge. The company’s stock has been experiencing a series of fluctuations recently.
Earlier this month, California-based online retailer company approved a 1-for-15 reverse stock split and transferred its equity listing to the NASDAQ Capital Market. This move was followed by the announcement of the resignation of the company’s CFO, Tiffany Smith, and the appointment of CEO Crystal Landsem as the interim CFO effective June 30.
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In May, the company’s first-quarter earnings report showed a miss on both earnings per share and sales estimates. The company’s revenue for the quarter was $64.16 million, a 17% decrease year-over-year.
Why It Matters: The recent surge in LVLU’s stock value could be attributed to the company’s announcement that it had regained compliance with the NASDAQ listing rules. This was followed by a positive reaction from the market, with the company’s shares trading higher.
LVLU was also among the 12 consumer discretionary stocks that were moving in the after-market session on Tuesday, indicating a potential shift in investor sentiment towards the company.
Price Action: Lulu’s Fashion Lounge stock closed at $4.36, marking an 11.707% surge during regular trading hours on July 22.
According to Benzinga’s Edge Stock Rankings, both short- and medium-term price trends show an uptick, indicating growing bullish momentum. Additional performance details are available here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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