Shares of Superdry PLC (LON: SDRY) today surged 7.39% despite the lack of major releases from the company’s extending its weekly gains to 38% as investors piled into the stock ahead of the Black Friday sales period.
The retailer’s latest rally could also be related to the positive ratings from analysts regarding the company’s future prospects as evidenced by the comments below from analysts at Liberum regarding the recent appointment of Benedict Smith as Superdry’s new interim chief financial officer.
“We note that the group’s cash management throughout COVID-19 to date already deserves much credit, with a net cash position of £44mln as at September materially ahead of the prior year, due to both strong stock clearance and a disciplined buying for autumn/ winter 2020,” the analysts said.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Superdry’s rally could also be linked to the COVID-19 vaccine results reported by Pfizer on Monday that saw many stocks rally as investors anticipate a return to normal once the vaccine is commercially available.
Superdry share price
Superdry shares today surged 7.39% to trade at 229.6p having rallied from Thursday’s closing price of 213.8p.
People who read this also read:
