ASO - This Sporting Goods Stock Is Crushing the Market and It's Not Too Late to Buy
Physical sporting goods retailers were supposed to have died off years ago -- just look at names like Sports Authority, Modell's, and Olympia Sports that have filed for bankruptcy in recent years.
But Academy Sports (NASDAQ: ASO) didn't get the memo -- not only is it alive and kicking, it is trouncing the returns of the broader market. The sporting goods retailer is up nearly 40% over the past year, while the Nasdaq Composite , where it is listed, is down about 24% over the same time frame. Meanwhile, the Dow Jones Industrial Average and S&P 500 are down 4% and 13% during this period, so it's not just the tech-heavy Nasdaq that Academy Sports is outperforming.
And it's not like this recent performance is an anomaly -- Academy Sports has returned over 300% since its 2020 IPO. Even after its 2022 surge, Academy Sports still looks like a strong buy. Here's why.
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This Sporting Goods Stock Is Crushing the Market, and It's Not Too Late to Buy