Why Did RYTHM (RYM) Stock Jump Over 23% Overnight?
RYTHM Inc. (NASDAQ:RYM) shares surged 23.3% in after-hours trading on Tuesday, closing at $30.
Check out the current price of RYM stock here.
According to Benzinga Pro data, the stock fell 21.52% in regular trading on Tuesday, closing at $24.33.
Q3 Financial Performance Drives Momentum
The Illinois-based company reported third-quarter revenue from continuing operations of $4 million, up 98% from $2 million in the previous quarter, according to a Nov. 7 company statement. The company ended the quarter with $35.6 million in cash, despite recording an $8.9 million operating loss from continuing operations.
Retail Expansion Fuels Investor Optimism
RYTHM’s flagship Señorita THC Margaritas, a premium hemp-derived THC beverage, has launched …