Why RH Stock Jumped 32% in July
Shares of RH (NYSE: RH), the high-end home furnishings company formerly known as Restoration Hardware, were surging last month after the stock rebounded from a sell-off following a guidance cut in late June. A bullish analyst note from Citigroup also seemed to give the stock a boost, as did the broader market's rebound.
Since RH is a discrectionary retailer, the stock is highly sensitive to the macroeconomic environment.
According to data from S&P Global Market Intelligence, shares finished July up 32%. As you can see from the chart below, the stock jumped in the beginning of the month as it recovered its losses from the guidance cut and surged at the end of July on a broader upswing in the market.
Source Fool.com
