Rent the Runway shares triple after upbeat revenue forecast on AI bet [Yahoo! Finance]
Rent the Runway, Inc. - Class A (RENT)
Company Research
Source: Yahoo! Finance
intelligence tools to power its growth in the current year following a bleak 2023. The rental firm expects revenue to grow between 1% and 6% in the current fiscal year, compared with a 0.6% rise in 2023, and forecast breakeven free cash flow. The company is trying to attract customers by using AI models to assist its search and product tools in finding the right fit. "Rent the Runway has just become the poster girl for investors that believe AI can help small business and not just large behemoths," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors. Last week, the company announced a one-for-20 reverse stock split to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq. Following the move, it now has a free float of about 2.6 million shares, according to LSEG data. Shares of Rent the Runway were trading at $18.94, giving it a market capitalization of about $67 million. Rent the Runway, which we
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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 [Yahoo! Finance]Yahoo! Finance
- 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
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