Retail Gets Wrecked, But Two Stocks Could See Revival
by MR Magazine Staff Jul 01, 2019
Retail was sent to the bargain bin this quarter. Foot Locker, Nordstrom and Macy’s are sharply lower over the past three months, while Gap is likely to close out its worst quarter since 2001 and Kohl’s its worst ever. “Overall the group looks very, very poor so on a longer-term basis, you still want to avoid them,” Matt Maley, equity strategist at Miller Tabak, said on CNBC’s “Trading Nation ” on Thursday. “But there could be some countertrend bounces here in the near term.” Nordstrom, one stock Maley says could see a bounce, has plummeted nearly 30% since the beginning of April. It has also trailed the broader market with a 2% gain this month, a third of the S&P 500′s advance. Read more at CNBC.