The shares of social marketplace Poshmark (POSH) have plunged in price since the company’s weak third-quarter earnings report. So, can the stock rebound on the company’s ability to leverage its broad portfolio of products and services? Let’s find out.Online apparel resale company Poshmark, Inc.’s (POSH) trailing-12-months active buyers reached 7.3 million in the third quarter of 2021, increasing 17% year-over-year. The Redwood (NYSE:RWT) City. Calif.-based company recently launched the first-of-its-kind Brand Closet program, opening its social marketplace to brands. It also acquired Suede One, a platform that combines machine learning, computer vision, and expert human review to virtually authenticate sneakers.
However, the company posted a wider-than-expected third-quarter loss and warned that Apple's (NASDAQ:AAPL) recent privacy changes would lead to higher marketing spending.
The stock has lost 9.2% in price over the past month and 29.1% over the past three months to close Friday’s trading session at $20.97. In addition, it is currently trading 80% below its all-time high of $104.98, which it hit on January 14, 2021. So, POSH’s near-term prospects look uncertain.