LendingTree Climbs Back To January Levels After Q4 Beat
LendingTree Inc (NASDAQ: TREE) shares are trading higher by $12.40 at $82.34 in Thursday's session. The catalyst for the rally is a Q4 EPS beat of $0.13 with slightly better sales.
The issue has now recovered a majority of its losses from January 12, falling from its previous day close ($86.63) to $61.14. The reason for the rout was supposedly negative comments were made regarding the current quarters guidance on a conference call.
After a higher open, it sprinted to $86.90 before pre-earnings buyers came in to lock-in profits. The ensuing decline has taken the issue to $79.40. Since making that low, it has climbed back into the $82 handle.
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