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We recently published an article titled These 10 Firms Led This Week's Rally. In this article, we are going to take a look at where Capri Holdings Ltd. (NYSE:CPRI) stands against the other stocks.
Ten companies finished stronger this week, outpacing the broader market thanks to a series of catalysts that lifted investor sentiment.
On Friday, the Dow Jones recorded its largest weekly drop, falling 1.07%, while the S&P's main index and Nasdaq declined by 0.71% and 0.62%, respectively.
Despite a lackluster performance from Wall Street’s major indices, 10 companies demonstrated notable resilience. In this article, we will look at their past week's performance and the reasons that fueled their rally.
To come up with this week's top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A glamorous woman with a leather handbag enjoying a shopping experience in an upscale boutique.
Capri Holdings Ltd. (NYSE:CPRI)
Share prices of fashion holding firm Capri Holdings Ltd. (NYSE:CPRI) increased by 14.65 percent week-on-week, ending at $23.71 as compared with the $20.68 finish the week prior.
Investor sentiment was buoyed by news that Prada was looking to acquire Capri Holdings’ Versace brand. According to reports, the company has already engaged financial and legal advisers to look into the potential deal to decide whether to pursue such a plan.
Meanwhile, Capri Holdings Ltd. (NYSE:CPRI) was also said to have hired Barclays to explore options for the label and other brands in its portfolio that would include Jimmy Choo.
Prada emerged as one of the winners amid a rare broader luxury sector downturn, having pushed its sales higher in the third quarter of 2024 thanks to the strong performance of its Miu Miu brand, which is enjoying rising popularity among the young market.
Overall CPRI ranks 7th on our list of the firms that led this week's rally. While we acknowledge the potential of CPRI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CPRI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.