Rent the Runway (RENT) stock has soared above 150% on Thursday as the down-on-its-luck ecommerce play renewed market interest with a game-changing outlook for the present year.
Rent the Runway stock surges more than 150% on updated 2024 outlook. Officials predict that the company will turn free cash flow positive this year. PPIreport defies Wednesday's CPI with falling inflation at producer level.
stock has traded above $18.50, while the broader market largely continues sagging after Wednesday’s hot Consumer Price Index reading for March. The higher than expected inflation report led the market to downplay any Federal Reserve interest rate cut in the near term. However, the NASDAQ is bucking the pullback to rise 0.7% at the time of writing. Thursday's Producer Price Index reportshowed falling inflation, which has given some tech stocks the greenlight.
stock rotated above its fateful drop on September 8 of last year. The gap created from the previous session has a low of $25.20, and that is where the market's bulls will try to push it. Traders love closing gaps. It is quite hard to know where support lies after a spike like this, but the best guess is the area surrounding $17. That's where
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