February 4, 2021, 3:30 pm EST
Retailer and Recreation Emerge
Retailers (GOOS, LB) and recreation (SEAS, SIX, YETI) represented leadership for today’s market. Gaming & hotel (PENN, MGM) also made a strong move. It shows an optimistic view on COVID-19 vaccines and upcoming economic recovery.
Some online retailers and transactions were also among winners today (EBAY, PYPL).
However, the overall volume on the rebound this week is much lower compared to last week. Thus, prices are near a record high which means bullish. But, it is important to keep in mind that the rebound is not as strong as it appeared.
Stay cautious optimism for the road ahead.