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Why L Brands Stock Surged 63% Last Month

TheMotleyFool

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Why L Brands Stock Surged 63% Last Month

Shares of L Brands (NYSE: LB), the parent of Victoria's Secret and Bath & Body Works, skyrocketed last month as investors cheered the business update and cost-cutting plan it announced at the end of the month as well as its decision to continue pursuing a separation of Victoria's Secret and Bath & Body Works. Earlier in July, the stock steadily gained as it bounced back from the depths of the market crash. According to data from S&P Global Market Intelligence, the stock finished the month up 63%.

The chart below tells the tale.