HOG - Why Harley-Davidson Stock Jumped 13% in September
Shares of Harley-Davidson (NYSE: HOG) gained 12.8% last month, according to data provided by S&P Global Market Intelligence. The gain erased the drop of 10.8% in August, when trade war tensions escalated between the U.S. and China. The classic motorcycle brand has been struggling over the last year, partly due to that trade war Things got really bad for Harley-Davidson when the E.U. raised tariffs from 6% to 31% on motorcycles exported from the U.S. in 2018.
However, fears about the potential impact on the economy eased when news broke early in September that China and the U.S. agreed to get back to the negotiating table. Given that Harley-Davidson trades at a low valuation, investors were quick to scoop up what looked like a bargain.
IMAGE SOURCE: GETTY IMAGES.