What Happened?
A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +1.5%, S&P 500 +1.0%) as reports pointed to easing tensions between Israel and Iran.
The Wall Street Journal said senior Iranian officials had signaled a willingness to restart stalled nuclear talks, on the condition that Washington refrain from joining Israel's ongoing strikes. This development triggered a significant decline in oil prices, easing inflation concerns.
Also, it is possible some investors were buying the dip following the sell-off at the end of the previous week.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Apparel and Accessories company VF Corp (NYSE: VFC) jumped 5.7%. Is now the time to buy VF Corp? Access our full analysis report here, it’s free.
- Casino Operator company MGM Resorts (NYSE: MGM) jumped 6.7%. Is now the time to buy MGM Resorts? Access our full analysis report here, it’s free.
- Casino Operator company PENN Entertainment (NASDAQ: PENN) jumped 6.3%. Is now the time to buy PENN Entertainment? Access our full analysis report here, it’s free.
- Healthcare Technology for Patients company Hims & Hers Health (NYSE: HIMS) jumped 7.2%. Is now the time to buy Hims & Hers Health? Access our full analysis report here, it’s free.
- Vehicle Retailer company Camping World (NYSE: CWH) jumped 8.3%. Is now the time to buy Camping World? Access our full analysis report here, it’s free.
Zooming In On Camping World (CWH)
Camping World’s shares are extremely volatile and have had 31 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Camping World is down 5.3% since the beginning of the year, and at $19.52 per share, it is trading 22.5% below its 52-week high of $25.19 from September 2024. Investors who bought $1,000 worth of Camping World’s shares 5 years ago would now be looking at an investment worth $786.58.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.
