Why Nordstrom Stock Is Surging Today
Shares of upscale retailer Nordstrom (NYSE: JWN) are rising today, up 14.7% as of 11:30 a.m. EDT, amid a broad-based market rally as investors grow more optimistic about efforts to limit the spread of COVID-19.
Like many other brick-and-mortar retail stocks, Nordstrom's shares have been clobbered since the company closed its physical stores on March 17. Moves made since to halt the company's share-buyback program, draw down its lines of credit, and suspend its dividend haven't helped.
Image source: Nordstrom.
Source Fool.com