Why Ralph Lauren and Other Upscale Stocks Were Rising on Monday
Shares of several upscale apparel and home-goods companies were rising on Monday afternoon amid a broad-based market rally driven by a promising report from early trials of a COVID-19 vaccine.
Here's where things stood for these three companies' stocks as of 3:30 p.m. EDT, relative to their closing prices on Friday:
The broad market's Monday rally started after biotech company Moderna (NASDAQ: MRNA) shared interim data from an early study of its COVID-19 vaccine that showed positive results. Investors should take note that the data are very preliminary, and keep in mind that an approved, mass-produced vaccine is still many months away (at best). But notwithstanding those cautions, shares of many companies that have struggled over the last couple of months, including the three companies here, were rising on Monday afternoon.
Source Fool.com
