Why Shares in Resideo Technologies Surged by 83.4% in November
Shares in home comfort and security products company Resideo Technologies (NYSE: REZI) surged 83.4% in November according to data provided by S&P Global Market Intelligence. The move comes as a consequence of a super set of third-quarter results that easily beat analyst estimates.
In a nutshell, analysts underestimated the strength of the company's demand in light of stay-at-home measures. There's been a slew of consumer discretionary companies reporting strong earnings reports as a consequence of consumers' willingness to spend on home improvement during the pandemic, and Resideo is one of them.
Image source: Getty Images.
Source Fool.com
