Why Oatly Group Stock Soared Today
Oatly(OTLY) The Motley Fool·2024-04-30 18:03The company's gross profit is surging at an impressive rate.Shares of alternative-milk company Oatly Group (OTLY 14.00%) soared on Tuesday after the company reported financial results for the first quarter of 2024. It's only a mild reprieve for a stock that's still 96% below its all-time high, but it was a welcome reprieve for shareholders, nonetheless, with Oatly stock up 15% as of 1:15 p.m. ET.A huge step forward with gross profitsWhen it comes to the top line, Oatly didn't turn any heads in Q1. The compa ...