Can Macy’s Turnaround Help It Get Back To $16 Levels Post-Covid?

SourceForbes
SectorFinancial Markets
CountryGCC

ORLANDO, FLORIDA, UNITED STATES - 2020/03/30: A Macy's store is seen on the day the company ... [+] announced it is furloughing most of its 125,000 employees because of the ongoing coronavirus pandemic, which has sunk sales, and forced the closing of stores. (Photo by Paul Hennessy/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Macy’s stock (NYSE: M) has rallied 54% since late March (vs. about 49% for the S&P 500) to its current level of over $7 after falling to a low of close to $5 in late March, as a rapid increase in the number Covid-19 cases outside China resulted in heightened fears of an imminent global economic downturn. The stock remains 55% below year-t0-date levels of $16. Are any ...read more...