Why Express Stock Was Screaming Higher Today
Shares of Express (NYSE: EXPR) soared Monday along with other WallStreetBets stocks such as GameStop and Koss, as day traders appeared to pile into the same names that have been popular in the Reddit group since the beginning of the year.
There was no company-specific news out on Express. However, the market is more broadly rotating out of high-value tech stocks and into value plays that are likely to benefit from the economic reopening -- a category that includes apparel retailers like Express. The company will also report fourth-quarter earnings on Wednesday morning, and strong results could support Monday's gains.
The stock closed the session up by 61.8% on high-volume trading, with the average share changing hands more than once.
Source Fool.com
