Here's Why Tanger Factory Outlet Centers Is Spiking Higher Today
The stock market is having a strong day on Tuesday, with the S&P 500 higher by about 2% at 11:20 a.m. EDT. However, that gain is nothing compared to what we're seeing out of Tanger Factory Outlet Centers (NYSE: SKT), which is up by more than 30% today alone.
There are two main reasons Tanger's stock is spiking higher. First, the overall stock market is moving higher, and the sectors that have been beaten down the most lately, such as retail and hospitality, are among the top performers. We're finally starting to see signs that the COVID-19 pandemic is reaching its peak, and investors are seeing light at the end of the tunnel.
Image source: Getty Images.
Source Fool.com