Why XP Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Shares of XP Inc. (NASDAQ:XP) fell sharply by around 12% after reporting worse-than-expected first-quarter EPS results. XP posted earnings of 37 cents per share, missing estimates of 40 cents per share, but reported higher-than-expected sales of $818.79 million. Other stocks moving significantly include Akoustis Technologies, Inc. (NASDAQ:AKTS), Barnes & Noble Education, Inc. (NYSE:BNED), and Petco Health and Wellness Company, Inc. (NASDAQ:WOOF).
May 22, 2024 | 5:28 pm
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Akoustis Technologies, Inc. shares surged 213.3% to $0.4254 after the company reportedly floated the probability of bankruptcy following a lawsuit loss against Qorvo.
The massive surge in AKTS shares is likely due to speculative trading despite the negative news of potential bankruptcy. Investors may be betting on a turnaround or resolution.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Barnes & Noble Education, Inc. shares gained 119.7% to $1.1883 on continued volatility. Greenhaven last week said it continues to explore a possible transaction with the company.
The significant gain in BNED shares is driven by speculation around a potential transaction with Greenhaven, which could lead to a strategic shift or acquisition.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Petco Health and Wellness Company, Inc. shares gained 23% to $3.0201 following better-than-expected quarterly financial results.
The positive movement in WOOF shares is attributed to the company's strong quarterly financial performance, which exceeded market expectations.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
XP Inc. shares fell 12% after the company reported worse-than-expected first-quarter EPS results of 37 cents per share, missing market estimates of 40 cents per share. However, the company reported higher-than-expected sales of $818.79 million.
The significant drop in XP's share price is directly linked to the company's failure to meet EPS expectations, which is a critical metric for investors. Despite higher-than-expected sales, the EPS miss has overshadowed the positive sales performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100