ThredUp falls as Guggenheim slashes PT on inflation-driven slowdown

ThredUp

18/08/2022 16:28

** Shares in online apparel resale platform ThredUp  TDUP.O 
down ~7% at $3.04 as Guggenheim cuts PT, citing lower H2
guidance
    ** PT slashed to $8 from $18, implying an upside of 144.6%
to stock's last close
    ** TDUP on Monday beat market estimates for Q2 sales but cut
its 2022 revenue forecast amid macro uncertainties  urn:newsml:reuters.com:*:nL4N2ZR40D
    ** Brokerage says while peer Poshmark  POSH.O  cited an
improvement in trends in August, TDUP seemed more cautious
overall
    ** Says TDUP, POSH need to validate customer demand for
resale for stocks to perform well, which may take several
quarters
    ** TDUP stock has slumped ~76% YTD, while POSH is down ~29% 

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))