Why Macy's Shares Are Bouncing Today
Shares of Macy's (NYSE: M) were rising on Thursday, as bargain-hunting investors waded back in following Wednesday's broad-based retail sell-off.
As of 1 p.m. EDT, Macy's shares were up about 6.9% from Wednesday's closing price.
Macy's has had a rough ride lately. The corporate parent of the Macy's, Bloomingdale's, and Bluemercury retail chains furloughed most of its workers to save cash while its brick-and-mortar stores remain shut down due to the coronavirus pandemic.
Source Fool.com
