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MIK - Why The Michaels Companies Stock Went Up on a Down Day for the Market
The Michaels Companies Inc.
Shares of arts-and-crafts supply company The Michaels Companies(NASDAQ: MIK) went up on Friday, even though the overall market was down. Michaels was able to beat the downward trend thanks to a slew of analyst upgrades, including increased priced targets.
As of 3:30 p.m. EDT, Michaels stock was up 9% for the day, and is now up 30% so far in 2020. But analysts think it's just getting started.