(C) Reuters. Is Express a Winner in the Retail Industry?
Retail company Express’ (EXPR) shares have surged over the past few months with Reddit’s WallStreetBets forum’s increased focus on it. However, let’s find out if the stock’s financials are in sync with its price performance. Read on.Targeting mainly men and women in the 20 – 30 age group, Express, Inc. (EXPR) offers apparel and accessories through its e-commerce website, mobile app and retail and factory outlet stores. The stock surged to hit its 52-week high of $13.97 on January 27, 2021 on a short squeeze triggered by Reddit’s WallStreetBets forum. In other words, the “meme” stock frenzy led to the stock’s price increase.
Among recent developments at the company, it launched a #ExpressReentry campaign and TikTok Hashtag Challenge on May 17 to help consumers reconnect with style as they resume some of their pre-pandemic routines.
The stock has gained 59.5% over the past three months to close Friday’s trading session at $4.29. However, the stock looks expensive at this price level considering its fundamentals and near-term growth prospects. The stock has lost 52.1% over the past three years and 70.4% over the past five years. It regained compliance with NYSE’s listing standards on February 3; It received a notice in September 2020 that the average closing price of its shares had remained at less than $1 per share over 30 consecutive trading days.
Is Express a Winner in the Retail Industry?
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