Dave & Buster's Entertainment, Inc. PLAY shares are trading higher by $1.64 at $71.81 in Wednesday's session.
The catalyst for the rally is a Q1 adj. EPS beat of 6 cents along with a sales beat of $4.25 million. The Street doesn't appear to be concerned with its slightly lower FY 2017 sales and net income guidance.
After a lower open, Dave & Buster's immediately bottomed at $67.90 and began to move higher. The swift rebound off that low easily surpassed its former all-time high that was made in Tuesday's session at $70.42, so far reaching $72.93.
Since making that high, the stock has fallen back into the mid-$71.00 handle.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.