Why These 3 Outdoor Stocks Soared Monday
Shares of Camping World Holdings (NYSE: CWH), Winnebago Industries (NYSE: WGO), and Thor Industries (NYSE: THO), various manufacturers and retailers within the recreational vehicle industry, all jumped at least 9% higher Monday after a couple of positive developments sent markets higher.
Federal Reserve Chairman Jerome Powell boosted investor confidence when he commented on CBS's 60 Minutes that, "There's a lot more we can do," and that the Fed had plenty more ammunition if needed. Powell did note that while financial data during the second quarter will be very rough, he expects the economy to "recover steadily through the second half of this year." While Powell has said similar things previously, it's reassuring for investors to hear that the Fed is ready and able to continue aiding a potential economic recovery.
Another positive development was from biotechnology company Moderna. The company announced that its experimental vaccine, mRNA-1273, produced antibodies that could "neutralize" the coronavirus in patients and was doing well in a small, early-stage clinical trial. The vaccine is now on the "fast track" for a speedy regulatory review, and late-stage trials could start as soon as July.
Source Fool.com
