DBI - Why Bed Bath & Beyond and Other Retail-Chain Stocks Are Rising Today
Shares of several retail-chain operators were rising on Monday, amid a broad-based market rally as investors grew more optimistic about the development of a COVID-19 vaccine.
Here's where things stood for these four companies' stocks as of 12:15 p.m. EDT today relative to their closing prices on Friday.
The broad market's rally on Monday was driven by news that interim data from an early study of a COVID-19 vaccine developed by Moderna (NASDAQ: MRNA) showed positive results. While an approved mass-produced vaccine is still months way (at best), investors took it as a good sign. Shares of many companies hit hard by the virus were trading higher by midday.