Buy Alert: Hasbro Stock Could Be Headed Higher
Shares of Hasbro (NASDAQ: HAS) were riding high in 2019 as the play and entertainment company saw strong growth in its partner brands segment. This was led by sales boosted by Walt Disney's (NYSE: DIS) Frozen 2, Marvel characters, and Star Wars, as well as success in franchise brands including Magic: The Gathering and Monopoly. Hasbro also spent $3.8 billion to acquire Entertainment One (eOne), expanding its global brands.
While shares have recovered from recent lows seen when the overall market plunged from COVID-19 pandemic fears in March, they still remain 44% below those all-time highs, and significantly trail the recovery of the S&P 500 index. But promising business updates suggest a sharper recovery may be coming soon.
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Source Fool.com
