Why Crocs Stock Was Up This Week
Shares of Crocs (NASDAQ: CROX) trounced the market this week. The stock gained 15% through Thursday trading, according to data provided by S&P Global Market Intelligence, compared to a 4.4% rise in the broader market. That move didn't erase much of the short-term losses that investors have seen with the apparel retailer, though. Shares remain down by nearly 40% in 2022.
This week's rally reflected the judgment on Wall Street that this wider 2022 stock-price slump might be overdone.
Crocs' latest earnings report contained some good news about the business, after all. Sales rose 51% to a record $964 million in the selling period that ended in late June, management said in August. The footwear specialist remained solidly profitable, too, despite soaring expenses.
Source Fool.com
