Why Shares of Mattel Popped 10% Thursday
Shares of Mattel (NASDAQ: MAT), a toy company with brands such as Barbie and Hot Wheels, jumped more than 10% Thursday afternoon as markets continued to rally after the Federal Reserve announced a new $2.3 trillion round of loans to support consumers and small businesses.
The Fed also announced Thursday that it will create a municipal liquidity facility with up to $500 billion in loans and $35 billion in credit protection to help state and local governments. "The Fed's role is to provide as much relief and stability as we can during this period of constrained economic activity, and our actions today will help ensure that the eventual recovery is as vigorous as possible," Fed chair Jerome Powell said.
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Source Fool.com
