From rags to riches, Rent the Runway goes from penny stock to quadrupling share prices in days after doubling down on AI [Yahoo! Finance]
Rent the Runway, Inc. - Class A (RENT)
Company Research
Source: Yahoo! Finance
The company's stock quadrupled this week after it reported optimistic earnings on Wednesday, hovering at around $5 per share before leaping over $20. Rent the Runway posted revenue of $298.2 million for 2023 on Wednesday, a modest year-over-year increase from $296.4 million in 2022. Compared to the 2023 fiscal year, Rent the Runway predicts revenue growth from 1% to 6%. The company has yet to turn a profit, but it hopes 2024 will be its breakeven year. To make it happen, it's putting a greater focus on leveraging technology to improve marketing. “In 2023, we made major strides on site performance and speed across all of our surfaces, and we made it easier for users to find inventory they love via enhanced discovery features like Rent the Look, AI search, new filtering and upgraded photography and styling," CEO Jennifer Hyman said in a Thursday investors call Founded in 2009, Rent the Runway went public in 2021. But despite a great first impression on the stock market , the clot
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News
- What Rent the Runway's 360% stock surge reveals about the future of AI in fashion [Yahoo! Finance]Yahoo! Finance
- What Rent the Runway's 360% stock surge reveals about the future of AI in fashion [Fortune]Fortune
- From rags to riches, Rent the Runway goes from penny stock to quadrupling share prices in days after doubling down on AI [Fortune]Fortune
- Rent the Runway Stock Surge Shows Investors' Penchant for AI [Yahoo! Finance]Yahoo! Finance
- Top 10 stocks with upwards and downwards daily percentage change - Piper Sandler [Seeking Alpha]Seeking Alpha
RENT
Earnings
- 4/10/24 - Miss
RENT
Sec Filings
- 4/18/24 - Form 144/A
- 4/12/24 - Form 144
- 4/12/24 - Form 144
- RENT's page on the SEC website