Wealthfront Surges 14% as Platform Assets Top $100B
WLTH sits 52% above its 52-week low of $7.2 on elevated volume (2.1× avg).
Summary
Wealthfront shares jumped 14% to $10.82 after Q2 results beat expectations, with revenue of $91.9M topping the $91.5M forecast and EPS of $0.10 beating the $0.08 estimate. The company's total platform assets surpassed $100 billion as of end of August, doubling in under three years. This follows yesterday's earnings release, but today's move reflects the market's positive reaction and the new asset milestone. The stock remains down 21% year-to-date despite the rally.
At the time of this announcement, WLTH was trading at $10.93 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $7.20 to $14.75. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.