Why Five Below Stock Jumped 17% in September
Shares of retail chain Five Below (NASDAQ: FIVE) jumped 17.1% during September, according to data provided by S&P Global Market Intelligence.
But context is important here: The stock was down more than 30% from the start of July through the end of August. It had also lost about 60% of its value in 2024 prior to September. So it only slightly bounced back from an otherwise dismal performance lately.
Five Below has plummeted for a variety of reasons. For starters, it hasn't been a great year for sales -- the company's same-store sales dropped by 4% in the first half of 2024 compared with the same period of 2023. Moreover, net income is down 23%. And to add an extra dose of uncertainty, its CEO abruptly resigned in July, leaving the company to scramble for a new leader.
Source Fool.com
