Moderna stocks have hit a new all-time high, with the luxury retailer surging over the weekend.
The company said Thursday that its share price had doubled over the past week, thanks to a rebound in demand for its signature collection of shoes, handbags, and other items.
The stock has more than doubled since mid-February, and now trades for about $6.70 per share.
The move comes as other high-profile fashion brands are seeing strong gains.
Gap Inc. jumped from $13.45 a share on Friday to $15.71 on Wednesday.
American Apparel Inc. also rose over the same period, reaching $20.00 per share on Thursday.
But the biggest gains have come from the more obscure brands, with L’Oréal SA, owned by French fashion company LVMH, jumping more than $8 a share to $20 a share.
American Express Inc., the country’s biggest credit card issuer, jumped nearly $1.50 a share after hitting a record high.
The shares rose more than 4% in after hours trading on Thursday, before hitting a new high of $20 per share, according to Bloomberg.
It’s the second-biggest gainer on Wall Street in the past five weeks, after the S&P 500 rose nearly 9% on Thursday and the Nasdaq composite rose 5%.
The rally has fueled concerns about the company’s stock price, as investors are looking for signs that its stock price will continue to climb.
The share price of the fashion giant has more or less tripled in the last five years, and it’s been on a tear.
Its stock price has nearly quadrupled since the end of 2014, and this week it climbed more than 5%.
It has more to offer investors, including the possibility of growth.
“The big question is whether or not this stock will continue this trajectory,” said Mark Rifkin, chief market strategist at BMO Capital Markets.
“That is the big question right now.
And we’re going to see a lot more price action in the next few days.”
But the company isn’t just growing its profits.
The retailer has been boosting its dividend by more than 3% since January.
Its shares rose about $7.50, or 2.5%, to $1,979.35 per share in after-hours trading on Wednesday, the highest in almost two weeks.
“There’s some concern about the sustainability of the dividend and whether the company is sustainable, but I think the company has always been sustainable,” said Rifkins.
“We don’t see a huge opportunity to pull back.”
Moderna shares fell as much as 3% in early trading Thursday, according of Morningstar.
“In my view, there is a lot of room for the stock to increase in the near term, especially given the strong fundamentals that are in the stock,” said James Gorman, chief investment officer at U.S. mutual fund manager Vanguard.
“I’m concerned that the company may be going too far, but that is not the case.”
The stock was up more than 12% over the week, after gaining more than 8% on Friday.
In its most recent earnings call, CEO Michael Belsky made clear he is looking to increase sales.
The retail giant has about 5 million employees worldwide, and sales are up more rapidly than the industry average, according in its earnings report.
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