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Why Stitch Fix Stock Was Up 15% on Tuesday

TheMotleyFool

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Why Stitch Fix Stock Was Up 15% on Tuesday: https://g.foolcdn.com/editorial/images/709519/woman-using-smartphone.jpg

Stitch Fix (NASDAQ: SFIX) investors beat the market on Tuesday as the stock gained 15% by 12:45 p.m. ET, compared to a 1.4% increase in the S&P 500. The rally was sparked by encouraging news on the economy and retail industry.

That rally didn't remove much of the recent losses that investors have seen in the e-commerce apparel retailer, though. The stock is still down by over 70% so far in 2022.

Fresh government statistics showed a slowing pace of price increases for the month of October, which marked another data point suggesting that inflation might have peaked. That news helped push the wider market higher on Tuesday, and Stitch Fix benefited from that rising economic optimism.

Source Fool.com

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