Send me real-time posts from this site at my email
Motley Fool

Why Funko Stock Just Popped by 13%

What happened

Shares of toy figurines-maker Funko (NASDAQ: FNKO) closed Friday up by 13.2% after trading mostly flat on Thursday.

So what

So what changed in the story of this consumer discretionary toy seller? Really, only one thing. After the close of trading Thursday, Funko announced the date and time for its next quarterly earnings release: Nov. 5 after the market closes.

Now what

Was that a good enough reason for Funko's stock price to have popped? I mean, we may not have known until now precisely when Funko was planning to report earnings, but at least we knew that it was going to report ... eventually.

Still, it seems that confirmation of the date and time of the earnings release grabbed investors' attention Friday. Perhaps adding to their enthusiasm was an upbeat indicator from Zacks Equity Research. Analysts have been warning that Funko sales have been suffering due to the coronavirus pandemic, asserting that its earnings could drop by much as 74% year over year to $0.10 per share. However, on Thursday, Zacks confided its view that Funko is actually "expected to beat" that consensus earnings figure. Thus, the thing really pushing up Funko stock on Friday would appear to have been not just the confirmation of the earnings date -- but an analyst telling investors they can bet on Funko beating earnings on that date.

Image source: Getty Images.

Will that actually happen? Tune in Nov. 5 to find out.

10 stocks we like better than Funko, Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Funko, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of October 20, 2020

Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.


Source

Popular posts

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue