Poshmark Stock Rebounds on Barclays Bull Note

The stock is fresh off a negative post-earnings reaction

Deputy Editor
Aug 15, 2022 at 10:16 AM
facebook X logo linkedin


Poshmark Inc (NASDAQ:POSH) is rebounding from Friday's post-earnings slide, up 14.6% at $13.52 at last glance. This jump comes after Barclays upgraded the stock to "overweight" from "equal weight," with a price-target hike to $17 from $13. The firm cited the growing second-hand clothing industry, which could gain even more traction amid recession concerns.

Options bulls are targeting POSH today as well, with call volume running at 34 times the intraday average. So far, 2,230 calls have been exchanged compared to just 235 puts. The August 15 call accounts for a good portion of this activity. 

Trading at its highest level since April, POSH has completely erased Friday's 8.4% loss. Year-to-date the equity is still down 21.5%. It's also worth noting that Poshmark stock has landed on the short sell restricted (SSR) list today. 

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!