Off goes PRTY. 🥳The stock popped 18% today. Funds grabbing shares🥳

Party City Holdco Inc (PRTY) is trading 18% higher at $2.435 today. While it's generally been a somewhat gloomy day for this part of the market, the company is strongly outshining it's peers in the Consumer Discretionary sector.

The embattled party supply co could be moving for several reasons -
- Big names in the consumer sector are still turning a profit - See Walmart
- Party City is a popular outlet for celebrations, especially around Halloween

Funds are also picking up shares
- Los Angeles Capital Management LLC increased its stake in Party City HoldCo Inc. by 258.7% in the first quarter
- Point72 Hong Kong Ltd purchased a new stake in Party City Holdco worth about $81,000 during the 4th quarter
- ProShare Advisors LLC increased its position in Party City Holdco by 70.5% during the 4th quarter
- PDT Partners LLC purchased a new stake in Party City Holdco during the 4th quarter worth about $76,000
- Swiss National Bank purchased a new stake in Party City Holdco during the 4th quarter worth about $1,303,000


Party City Holdco Inc has been trading between a 52-week high of $9.21 and a 52-week low of $1.04. The stock has a market cap of $275 Million.

Party City Holdco Inc. is the leading party goods company by revenue in North America and, the company believes, the largest vertically integrated supplier of decorated party goods globally by revenue. The Company is a popular one-stop shopping destination for party supplies, balloons, and costumes.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

OPINION_IS_UNPOPULAR - 1 upvotes - source
Any mention of PRTY is an instant permban. It's an r/pennystocks pump and dump that is 50% lower than the market cap threshold. It's not the only one, but it's the most egregious. Reply with the u/ of anyone who bypasses the filter. (I will verify all reports)

kboogie- - 1 upvotes - source
PRTY