Blue Apron leads strong day for Internet retail sector (NYSE:APRN)

Double exposure of abstract creative financial chart hologram and world map on modern business center exterior background, research and strategy concept

Igor Kutyaev/iStock via Getty Images

Internet retail stocks showed solid gains again on Wednesday even as broad market averages swung lower.

With less than two hours of trading left for the day, Blue Apron (NYSE:APRN) led the sector with a jump of 12.19% on strong volume, while Farfetch (NYSE:FTCH) +4.72%, Chewy (NYSE:CHWY) +3.05%, Poshmark (POSH) +3.02%, Boxed (NYSE:BOXD) +2.95%, Coupang (CPNG) +1.66% and MercadoLibre (MELI) +1.15% were also in positive territory.

Over the last week, select Internet retail stocks have traded in the same direction as momentum names like GameStop and AMC Entertainment have disconnected from the Nasdaq direction.

Read the update on the broad market: Nasdaq, S&P 500, Dow Jones extend losses as rebound pauses.


Source link

Leave a Reply