Why Mattel Stock Soared 30% in July
The maker of Barbie and Hot Wheels reported its fourth consecutive quarter of improving profitability, gross margin, and earnings. Investors were impressed, sending the share price up 30.2% last month, according to data provided by S&P Global Market Intelligence.
Mattel (NASDAQ: MAT) has seen its stock fall dramatically over the last few years as the company suffered from mounting losses on the bottom line. But the second-quarter earnings report showed significant progress on management's turnaround plan to cut costs.
Image source: Mattel.
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