Why Designer Brands Stock Jumped 10% Today
Shares of Designer Brands (NYSE: DBI) sprinted 10.2% higher Monday on no company-specific news, though the Dow Jones Industrial Average was up over 200 points after President Trump signed the new stimulus bill.
Extra money in consumers' pockets could point to a new round of spending and more footwear sales. And Trump agrees with House Speaker Nancy Pelosi, the California Democrat, that the stimulus package for individuals needs to be a lot more. He's pushing for $2,000, with an extra $600 for families with children, meaning a family of four would receive $5,200.
Image source: Designer Brands.
Source Fool.com
