3 Retailers Hitting 52-Week Highs Right Now
Traditional retailers are dying, they say. The days of brick-and-mortar stores are numbered as consumers flock to cost-cutting online merchants. Things have gotten so dreary in the retail world that an exchange-traded fund launched last month -- ProShares Decline of the Retail Store ETF (NYSEMKT: EMTY) -- designed specifically to rise as mall chain stocks tumble.
ProShares Decline of the Retail Store ETF even has a catchy ticker symbol, going with EMTY, as in the "empty" malls that it hopes to cash in on for its investors. In a case of impeccable timing, it launched a week before the start of the holiday shopping season. Things clearly look dreary for many conventional merchants, but the narrative isn't guaranteed. ProShares Decline of the Retail Store ETF has actually fallen since its debut last month. There are also a few retailers moving higher. Best Buy (NYSE: BBY), Five Below (NASDAQ: FIVE), and Gap (NYSE: GPS) all hit fresh 52-week highs last week. Let's see why they are bucking the trend.
Source: Fool.com
Best Buy Co. Stock
With 32 Buy predictions and 4 Sell predictions Best Buy Co. is one of the favorites of our community.
With a target price of 76 € there is a slightly positive potential of 8.94% for Best Buy Co. compared to the current price of 69.76 €.
