Is Macy's Still a Buy After Jumping 121% in 2021?
Macy's (NYSE: M) was devastated at the onset of the coronavirus pandemic. To help slow the spread of the potentially deadly virus, Macy's was forced to close all its locations to in-person shoppers. The sudden halt was unprecedented and caught management off-guard. Sales cratered, and the company had to adapt quickly or risk running out of money.
Macy's is arguably a stronger business now than it was before the start of the pandemic. Management can be commended for decisions it made during the crisis. The market might agree with the previous statement -- Macy's stock is up 121% year to date. After such a rise upward, is Macy's stock still a buy?
Image source: Getty Images.
Source Fool.com
