1847 Goedeker (GOED) Stock Goes parabolic: Will it Continue?

1847 Goedeker Inc (NYSEAMERICAN:GOED) is the most popular stock and biggest gainer in the opening session on Thursday.

1847 Goedeker (GOED) Stock Goes parabolic: Will it Continue?

The stock gapped up at the opening session and now soared b by 285% to $16.65, just $1 away from its 52-week high of $17.75. There seems to be no news for such a big rally. However, one should note that the stock had been under continuous selling pressure since mid-February as it all the way from $17.75 to its 562-week low of $4.20 recently.

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So, today’s single-day jump has reversed all its fall in the stock made in the past 3 months.

Earlier in May, the company reported that combined revenue up 84% year-over-year to $123.0 million in the first quarter of 2021, driven by continued strong growth in site sessions, up 61% to 11.1 million, and written orders, up 105% to $199.3 million.

Gross profit was $32.2 million for the combined companies, or 26.2% of total first quarter 2021 net revenue, up from 18.9% in the first quarter of 2020.

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Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.