Why Gap Stock Was Gaining Today
Shares of Gap (NYSE: GPS) were moving higher today after the apparel retailer said yesterday it would reopen approximately 800 stores. The news comes as retailers have begun to announce reopenings and states around the country are reopening their economies. Today's gains also come as the broad market rallied amid better-than-expected earnings reports and on beliefs that the worst of the COVID-19 pandemic has passed.
Gap shares were up 4.2% as of 1:24 p.m. EDT, while the S&P 500 had gained 1.6%.
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Source Fool.com
