Sharp Rebound: The Warehouse Group Rises 6.02%

The Warehouse Group Ltd [NZX:WHS] has enjoyed a market rally today, gaining over 6% during bullish trading.

The Warehouse — founded in 1982 — is New Zealand’s largest retail group. It has a strong presence in Kiwi metro centres. The conglomerate also operates popular outlets such as Warehouse Stationery, Noel Leeming, and Torpedo7.

The Warehouse share price is currently sitting at $2.29 at the time of writing, and it has a market capitalisation of $820m.

Why has the [NZX:WHS] share price increased today?

Coronavirus fears sparked an emotional upheaval last week, causing stock prices to plummet. Heavy sell-offs resulted in losses over $6 trillion. A truly breathtaking sum.

Many analysts believed that this could mark the beginning of a global recession.

However, in a dramatic turn, markets around the world have since rebounded, erasing the sour mood. The Dow and S&P indexes, in particular, have posted very positive results.

This has led to renewed confidence in the Australia and New Zealand.

A more bullish sentiment prevails — which has directly benefited stocks like The Warehouse.

Where could The Warehouse go from here?

At this point, the immediate outlook remains murky.

The coronavirus continues to disrupt global trade and travel.

However, for fund managers and individual investors willing to take a punt, this correction could offer a unique chance to gain value.

 

Regards,

John Ling,
Contributor, WealthMorning.com

Daily Wealth

Subscribe now to get our members-only podcast — ‘How to Succeed Financially in a Post-COVID World’. And receive the investor’s newsletter capturing the most decisive financial events that could impact your wealth.

By clicking Subscribe you agree you’ve read and accepted our Privacy Policy. You can cancel at any time.


John is the Chief Marketing Officer at Wealth Morning. His responsibilities include marketing, customer service, and compliance. He is an experienced investor and portfolio manager, trading both on his own account and assisting with high net-worth clients. In addition to contributing financial and geopolitical articles to this site, John is a bestselling author in his own right. His international thrillers have appeared on the USA Today and Amazon bestseller lists. John is a shareholder of Wealth Morning.


Wealth Morning Stock Market News, Finance and Investments