Why Bread Financial Stock Rose 22.2% This Week
Bread Financial Holdings (NYSE: BFH) had a great week, with its stock price up 22.2% from last Friday's close as of noon ET today, according to S&P Global Market Intelligence. The stock is trading at around $37 per share, down 44% year to date.
It outpaced all of the major indexes, as the Dow Jones Industrial Average was up 10.1%, the S&P 500 gained 7.9%, and the Nasdaq Composite jumped 6.3% over that same period.
Bread Financial Holdings may not be familiar to many investors. That's because the company was formerly known as Alliance Data Systems, a leader in private-label and co-branded credit cards. It also had a separate loyalty business, LoyaltyOne, but spun it off in 2021. Alliance Data bought the buy now, pay later (BNPL) company Bread in 2020 and then took on that company's name in March 2022, so it is now called Bread Financial Holdings.
Source Fool.com
