Why Stitch Fix Stock Jumped Again Today
Shares of Stitch Fix (NASDAQ: SFIX) were gaining again today even as there was no news on the online personalized styling service. Instead, the stock seemed to benefit from a number of trends, including a short squeeze, signs the apparel industry is bouncing back, and hopes that the $1.9 trillion stimulus plan proposed by President-elect Joe Biden will further grease the economic recovery. Stitch Fix was among a number of growth stocks bouncing higher today after Janet Yellen, who's set to become Biden's Treasury secretary, urged Congress in her confirmation hearing to "act big" to support the economy.
