Movers: Affirm, Duolingo, Mister Car Wash, Poshmark, Robinhood, Twitter, Toast

Barry Adams
13 May, 2022
New York City

Affirm Holdings Inc jumped 20% to $21.56 after the company reported smaller-than-expected loss and lifted full-year revenue outlook. 

The payment network company also extended its partnership with the e-commerce platform Shopify. 

March quarter revenues rose 54% to $354.8 million and net loss shrank 81% to $54.7 million. 

The company lifted full-year revenue outlook to between $1.33 billion and $1.34 billion and fourth quarter revenues between $345 million and $355 million. 

Duolingo Inc soared 33.3% to $89.29 after the language software company reported total revenues increased 47% to $81.2 million and net loss shrank to $12.2 million from $13.6 million a year ago. 

The quarterly loss was mostly driven by stock-based compensation expenses. 

Paid subscribers increased 60% to 2.9 million from a year ago and the company guided full-year adjusted earnings between breakeven and $3 million. 

The Honest Company gained 14% to $3.34 after the apparel company reported March quarter revenues declined 15% to $68.7 million and net loss surged four-fold to $14.6 million from a year ago. 

The company also reaffirmed its full-year revenue outlook to be flat compared to 2021. 

Mister Car Wash Inc declined 5.2% to $11.44 after the company reported March quarter revenues rose 25% to $219.4 million and net income jumped nearly 40% to $35.5 million or 11 cents a share. 

The operator of 399 car wash locations estimated full-year 2022 revenues between $875 million and $895 million and net income between $139 million and $149 million. 

The company plans to open 30 new locations in the year. 

Poshmark Inc jumped 25% to $12.18 after the online apparel marketplace operator reported first quarter revenues increased 13% to $91 million and a net loss shrank about 82% to $14 million or 18 cents a share. 

The company also offered a weaker-than-expected revenues outlook for the current quarter between $86 million and $88 million. 

Robinhood Markets, Inc jumped 25.2% to $10.74 after Sam Bankman-Fried, the CEO of crypto-exchange FTX, noted in a regulatory statement acquiring 7.6% stake in the company for about $648 million.   

Twitter Inc plunged 7% to $41.88 after Tesla CEO Elon Musk said the takeover deal is "temporarily" on hold and requested more data on the number of fake and spam accounts. 

Tesla Inc surged 5.6% to $768.47 after the Twitter deal news. 

Toast Inc jumped 11.5% to $15.90 after the technology platform for restaurants reported March quarter revenues jumped 90% $535 million and net loss shrank to $23 million from $99 million a year ago. 

The company also lifted its full-year revenue outlook to a range between $2.5 billion and $2.55 billion from the previous estimate between $2.349 to $2.409 billion.