Which Stock Went Up 50 Percent In Less Than A Month?May 12, 2011 6:56 am
The answer will surprise many – it is Bookseller Barnes & Noble (NYSE: BKS) – a stock that had fallen 80% in the past five years, has shot up by 50 percent in the last one month.
“Back in March, I suggested “the odds are increasing for a convincing turnaround.” My logic rested on two pillars: First, a massive shrinkage in the store base of rival Border’s would help drop-in traffic in those neighborhoods affected. Second, the company’s Nook electronic reading device was starting to emerge as a real contender among the small group of e-readers. As it turns out, it’s the Nook that explains why shares of Barnes & Noble have taken off like a rocket, rising 50% in less than a month.”
Statistics Source: Seeking Alpha