Why Stitch Fix Is Sewing Up a 9% Gain This Week
Shares of Stitch Fix (NASDAQ: SFIX) jumped 9.3% this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence. This continued a run higher that began in mid-December but picked up the pace after the company announced that it was cutting 20% of its salaried jobs, the second round of layoffs in just a few months, and that the CEO was stepping down.
Stitch Fix stock is now up over 110% since the run higher began, though the shares remain 66% below their 52-week highs.
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Source Fool.com
