Why Bed Bath & Beyond and Express Soared This Week
This past week's been a good one for the broad market, but a great one for certain consumer-facing stocks. Bed Bath & Beyond (NASDAQ: BBBY) is soaring, up 9.6% as of midday Friday, while shares of retailer Express (NYSE: EXPR) are up an incredible 62.2% for the same period. Little-known beverage name Celsius Holdings (NASDAQ: CELH) is higher to the tune of 8.8%.
The bullishness reflects a converging combination of factors.
Investors following the meme stock movement may already realize Express and Bed Bath & Beyond were both hot topics on trading message boards -- again -- last week. And at least in the case of Bed Bath & Beyond, the company gave traders plenty of fodder. A little over a week ago, the home goods retailer unveiled the "Beyond Big Savings Event" meant to make its stores a top destination for consumers shopping with summer and travel in mind. Earlier this week, Bed Bath & Beyond unveiled its newest private label brand, Wild Sage. The new brand of bedding, bath, and linens marks the company's fifth new house brand launch this year alone, with a total of eight (at least) planned for 2021.
Source Fool.com
