Why Stitch Fix Stock Jumped This Week
Shares of Stitch Fix (NASDAQ: SFIX) outperformed a rising market this week, as the stock jumped 13% through Thursday trading compared to a 1.5% increase in the wider market, according to data provided by S&P Global Market Intelligence.
The rally wasn't driven by any specific news from the company, and Stitch Fix stock remains down by over 60% so far in 2022. However, the move higher underscores how quickly shares might rebound if sentiment shifts on this beaten-down stock.
There were a few encouraging developments this week that, while not specific to Stitch Fix's business, might mean that investors were too hasty in abandoning this apparel stock through most of 2022. Inflation trends are slowing and the job market remains healthy, reducing the risk of a recession. And the job market continues to show historically low levels of unemployment.
Source Fool.com
