Here's Why Target Stock Has Been on Fire in 2021
Target (NYSE: TGT) was one of the prime beneficiaries of customer shopping during the pandemic. It was deemed an essential retailer and allowed to stay open when many others were forced to shut their doors.
However, investors worried that as economies reopen, sales may slump at Target. The theory was that consumers would have more places to spend their money once more businesses were allowed to open. That would leave less money in their wallet to spend at Target.
So far, that scenario doesn't seem to be playing out. In contrast, it looks like habits developed during the pandemic are sticking around, and that's great news for Target. In fact, that's the main reason Target stock is on fire in 2021.
Source Fool.com
