Stock Story -
What Happened:Shares of avocado company Mission Produce (NASDAQ:AVO) jumped 13.3% in the morning session after the company reported first-quarter results that blew past analysts' revenue and EPS expectations. Its gross margin also outperformed Wall Street's estimates. Management expressed satisfaction with the performance, specifically margins, adding, "The team's focus resulted in significantly improved per-unit margins, which translated to nearly 700 basis points of gross margin expansion and resulted in a significant improvement in adjusted EBITDA performance year-over-year." Zooming out, this was an impressive quarter that should delight shareholders.
Is now the time to buy Mission Produce? Find out by reading the original article on StockStory.
What is the market telling us:Mission Produce's shares are not very volatile than the market average and over the last year have had only 7 moves greater than 5%. Moves this big are very rare for Mission Produce and that is indicating to us that this news had a significant impact on the market's perception of the business.
Mission Produce is up 13.2% since the beginning of the year, but at $11.72 per share it is still trading 12.5% below its 52-week high of $13.40 from June 2023. Investors who bought $1,000 worth of Mission Produce's shares at the IPO in September 2020 would now be looking at an investment worth $849.28.
![Mission Produce (AVO) Shares Skyrocket, What You Need To Know](https://d68-invdn-com.investing.com/content/pic879055fd8ec453750b8f502d7c125858.jpeg)