Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
On Monday, the broader market suffered a decline as investors began to get jittery about volatility in China, the Federal Reserve's interest rate increase and valuation concerns.
However, luxury athletic apparel retailer Lululemon Athletica inc. (NASDAQ: LULU) posted massive gains, with shares rising 6.46 percent, after analysts at both Wells Fargo and Jefferies upgraded the stock.
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2015 Mistakes
Last year, the firm suffered from negative press, infighting among its leaders and concerns about its business model. Over the past six months, the stock has fallen 14.29 percent as investors looked unfavorably on the apparel maker's plans to expand internationally and worried about the firm's profitability. Last year, Lululemon was forced to recall its hoodies because of a dangerous drawstring, and in 2013, the company became the butt of social media jokes when it recalled its yoga pants for being too sheer.
New Year, New 'Lulu'
However, both Jefferies and Wells Fargo have said that the company has the potential to recover in 2016, as it has made improvements to its supply chain and remains one of the strongest brands in the activewear space.
Athletic apparel is expected to remain popular in the coming year, and Lululemon has demonstrated that it has its finger on the pulse of what's fashionable in that category.
Still Some Doubt
While the stock has received a lot of positive attention going into the new year, some are still exercising caution. Analysts at D.A. Davidson acknowledged Lululemon's potential to improve margins, but cited a lack of confidence in the firm's ability to execute as a reason to maintain a neutral rating. For those who want to play the growing popularity of activewear, Davidson recommends more established firms like Nike Inc (NYSE: NKE) or Under Armour Inc (NYSE: UA).
Image Credit: Public DomainCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.