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Should You Buy the Dip in Poshmark? -Breaking

by Mike Robinson

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© Reuters. Poshmark: Should you buy the Dip?

The shares of social marketplace Poshmark (POSH) have plunged in price since the company’s weak third-quarter earnings report. So, can the stock rebound on the company’s ability to leverage its broad portfolio of products and services? Let’s find out.Online apparel resale company Poshmark, Inc.’s (POSH) trailing-12-months active buyers reached 7.3 million in the third quarter of 2021, increasing 17% year-over-year. Redwood City (NYSE:) A California company launched its first ever Brand Closet program. This social platform is now open to brands. The company also purchased Suede One. This platform combines machine learning and computer vision with expert human review in order to authenticate shoes.

The company reported a larger-than-expected loss in the third quarter and warned of increased marketing costs due to Apple’s recent privacy updates (NASDAQ:).

The stock has lost 9.2% in price over the past month and 29.1% over the past three months to close Friday’s trading session at $20.97. The stock is also trading at around 80% below the $104.98 all-time peak, which was reached January 14, 2021. So, POSH’s near-term prospects look uncertain.

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