Why Funko Stock Popped 15% More Today
Funko (NASDAQ: FNKO) stock is red hot, rising 15.7% as of 10:35 a.m. EDT Thursday -- and you can thank Bank of America for that. Early this morning, the investment bank announced it is reversing its opinion of Funko, and reversing its underperform rating on the stock, replacing it with a buy instead -- with a $30 price target that implies the shares could soar another 24% from today's prices. It didn't take long for investors to suffer buyer's remorse, however, and by yesterday's closing trade, Funko had given back all those gains, and was once again trading at its pre-earnings price.
