Funko shares have surged 42% since March despite falling revenue, mainly because signs of a successful turnaround are emerging. This follows a very tough 2023 fiscal year market by plunging sales and falling profits and cash flows. Management expects revenue to stabilize in 2024, with lower debt, reduced inventory, and potential for further growth.
From a technical perspective, Funko, Inc. (FNKO) is looking like an interesting pick, as it just reached a key level of support. FNKO's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
Here is how Funko-A (FNKO) and Royal Caribbean (RCL) have performed compared to their sector so far this year.