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A.k.a. Brands Holding Corp's stock rose 43% to $14.92 in the after-market session on Monday, the fourth biggest gainer among U.S. equities, garnering interest from Stocktwits members.
Shares had gained 13.4% in the regular session, although there was no apparent trigger for the rally that day.
A.k.a. Brands sells fashion apparel under brands such as Princess Polly, Culture Kings, Petal & Pup, and mnml. It operates both e-commerce and store properties.
On Stocktwits, the retail sentiment for AKA jumped to 'extremely bullish' (92/100) as of early Tuesday, from 'neutral the previous day, with 24-hour message volume going from 'high' to 'extremely high.'
Several users said they would watch the stock on Tuesday to see if the rally holds before deciding on a position. Notably, the stock has been on a downward trajectory, falling 44% year-to-date.
According to a report in fashion publication Women's Wear Daily on Monday, A.k.a. Brands CEO Ciaran Long appeared on a podcast and spoke about how the company is keeping Gen Z and Millennial buyers engaged.
In August, the company reported a 7.8% increase in its second-quarter net sales, and a 13.7% in U.S. net sales. Subsequently, A.k.a. Brands raised the net sales outlook for the full year.
Currently, three of the five analysts covering the stock have a ‘Hold’ rating, and the rest recommend ‘Buy,’ according to Koyfin’s data. Their average price target is $20.50, implying a 96% upside to the stock’s last close.
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