NEW YORK, NY / ACCESSWIRE / August 8, 2018 / There was no catalyst to explain the big pop in share price that iFresh saw yesterday. The stock closed up almost 73% on high volume with no news. Shares of Weight Watchers tumbled despite strong earnings and guidance but Wall Street was too concerned with the company’s subscriber numbers.
RDI Initiates Coverage on:
Weight Watchers International, Inc.
Weight Watchers International, Inc. shares were down 14.84% at the close on Tuesday with almost 8.8 million shares traded. The stock tumbled after Wall Street learned that the company had seen a slight decline in the number of subscribers it has in the last three months. The company lost 100,000 subscribers from the first quarter's 4.6 million. Weight Watchers reported second quarter results that revealed a 20% increase in YOY revenue to $410 million as well as a jump in earnings to $1.01 from 67 cents in the same quarter last year. The company also raised its outlook for the full year. Despite all this, subscriber worries had investors on edge. CEO Mindy Grossman said optimistically during the earnings call, "We ended the quarter with 4.5 million subscribers worldwide, an increase of 1 million subscribers from a year ago, due to continued double-digit member recruitment growth across all of our major geographic markets. And importantly, our average retention continues to be at record levels of well over 9 months. These results demonstrate the global appeal of our WW Freestyle program, supported by strong, integrated marketing execution, and a robust and engaging digital platform. By presenting WW in new ways, we're starting to attract a broader and more diverse audience, bringing in many new members who may not have considered Weight Watchers as a program for them in the past." Shares of the stock are up more than 75% since the start of the year.
Access RDI’s Weight Watchers International, Inc. Research Report at:
iFresh Inc. shares closed up 72.92% on Tuesday with almost 7 million shares traded. There was no news or catalyst to explain the gains for the leading Asian American grocery supermarket chain yesterday. The stock has seen lot of volatility in the last 10 days falling to $2.2 on Aug 3 and bouncing back from there to $4.15 yesterday. It was last week that the company commented on activity lately. It said that it is unaware of any material developments concerning its business operations that is not publicly available. The Company has not selectively disclosed any material nonpublic information to analysts, investors or others. In addition, neither the Company's executive officers, directors nor, to the knowledge of the Company, any controlling shareholders, sold or purchased common shares of the Company within the last 30 days. The Company's management believes it is prudent to advise the market of this given recent fluctuations of its stock price. CEO Long Deng remarked, “In general, the Company does not and will not address short term share price volatility. Recent shareholder inquiries regarding the recent stock price decline have prompted us to make this communication.”
Access RDI’s iFresh Inc. Research Report at:
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