This article only represents the author's own views.
Electronics recycling specialist ATRenew (RERE.US) has just given investors a taste of “profit lite” with its latest financial report showing it earned its first quarterly operating profit on an adjusted basis since going public last June. But it seems those same investors are hungrier for the real thing.
Shares of the company, whose technology-driven platform sees it collect, test and resell millions of smartphones, PCs and other gadgets, initially rose 9% in pre-market trading but later sank by 6.4% after it released its latest quarterly financial report last Thursday showing the profit milestone. The stock continued to be weak the next day.
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