After Hours Stocks Today: The markets are closed in the US today because of President’s Day, but that hasn’t stopped some stocks from making big moves after hours. It’s important to remember that these moves aren’t necessarily indicative of where these stocks will be trading when the bell rings tomorrow morning, so only make trades based on research done outside of after-hours trading hours and keep in mind that your margin requirements may differ from what you see here.
Rivian, Toast, Poshmark and More
Rivian Automotive – The manufacturer of electric vehicles saw a 3.1% increase in after-hours trading after exceeding revenue projections and reporting a narrower loss than anticipated in the most recent quarter. Rivian reaffirmed its delivery projections for the year but added that given its struggles with the supply chain, it now anticipates a bigger loss than previously thought.
Toast — After providing optimistic guidance for the current quarter and the entire year, Toast soared more than 10% in extended trading. The latest quarter’s revenue came in at $675 million, exceeding the $651 million that analysts surveyed by Refinitiv had predicted.
Poshmark — After reporting a larger-than-anticipated loss in its most recent quarter, Poshmark’s stock fell 5.7% after the market closed. Poshmark’s revenue exceeded expectations, but the company’s forecast for the coming quarter was disappointing.
Illumina — Illumina’s stock fell by almost 23% post-market after the company reported disappointing full-year guidance and missed top- and bottom-line estimates for the most recent quarter due to a challenging macroeconomic environment.
Olo — Following the restaurant software provider’s gloomy outlook for the current quarter and the entire year, Olo saw a more than 21% decline in extended trading. The company barely outperformed earnings forecasts, but revenue forecasts were not met.