Here's Why Five Below Stock Popped Today
Shares of Five Below (NASDAQ: FIVE) were up 11% at 10:30 a.m. ET on Thursday even though there wasn't any news directly related to the company. In reality, the stock has been at the mercy of market sentiment toward retail stocks in recent weeks. And today, investors are rethinking their recent pessimism.
In recent weeks, retail giants like Target, Walmart, and Costco have reported quarterly financial results. And investors have looked at those reports and have grown increasingly pessimistic about the retail sector because of inflation and the possibility of a recession.
To be fair, earnings per share (EPS) for these three retail giants did temporarily fall during the last major recession, even though revenue held up well, as the chart below shows.
Source Fool.com
