Why Michaels Stock Gained Again Today
Shares of Michaels Companies (NASDAQ: MIK), the arts-and-crafts retailer, were gaining for the second day in a row today, this time lifted by the May employment report that smashed expectations and showed that economic recovery appears to be happening faster than expected.
Today's jump follows gains yesterday that came after the company delivered its first-quarter earnings report.
As of 2:04 p.m. EDT, the stock was up 12.4%, while the S&P 500 had jumped 3%.
Source Fool.com