Why Shares of Nordstrom Are Rising Today
Shares of upscale retailer Nordstrom (NYSE: JWN) were rising on Friday morning, after investors waded in following one of the market's worst down days in years.
As of 10:45 a.m. EDT, Nordstrom's shares were up about 8.3% from Thursday's closing price.
On the one hand, there are legitimate short-term reasons to be worried about Nordstrom. Like other retailers, it's nearly certain to face a steep decline in store traffic as measures to slow the spread of COVID-19 take hold in the U.S and Canada.
Image source: Nordstrom.
Source Fool.com