"Rent the Runway Stock Skyrockets Over 200% Amid AI Frenzy and Record Earnings"

Rent the Runway's shares surged over 220% after the apparel rental firm announced its focus on using artificial intelligence tools to drive growth, joining the trend of companies rallying their stocks by emphasizing AI plans. The company forecasts revenue growth of 1-6% in the current fiscal year and aims for breakeven free cash flow. With a market capitalization of about $63.3 million, Rent the Runway recently implemented a reverse stock split to meet Nasdaq listing requirements. Despite previous challenges, the company reported increased customer loyalty and plans for new designer launches in 2024.