Has Macy's Stock Gone Too Far Too Fast?
Macy's (NYSE: M) has been one of the market's favorite stocks in 2021. Shares of the retailer are up 138% for the year so far. The company is rebounding strongly from the devastation caused by the coronavirus pandemic.
Moreover, changes management made at the pandemic's onset to reduce expenses are paying off as profits are soaring. Still, the company is a mainly brick-and-mortar retailer that has struggled to grow sales in the last decade. That has some investors wondering if Macy's stock has overextended itself.
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Source Fool.com
