We could all use the “luck of the Irish” sometimes.
And here on Wall Street, some companies, could use that “extreme good fortune” as well.
Because there is no leprechaun or four-leaf clover that can protect many companies from the pot o’gold that is Amazon or Apple.
Just ask Sears Holdings. The stock was down a whopping 61% 2017 and already down 32% year-to-date.
Same with JC Penney. The stock was down 62% last year but it’s up 37% so far this year, so investors are starting to pay attention. But c’mon. Why do you even need to go to that store when you can order all your kid’s clothes on Amazon?
But hey, everyone deserves another shot. So bring on the lucky shamrocks.
Oh and be sure to send them to the folks drowning in their green beer thanks to Apple too.
Companies like GoPro and Fitbit , are down 29% and 16%, year-to-date respectively, mainly because the camera on your iPhone and your new Apple watch easily replaced both of those products.
And while Fossil Group is trying to get into wearables, we think time’s up for them too.
Now you’d think we’d be sending some lucky charms to Toys “R” Us as well, but we’re not. The company has been saddled with debt for years and basically missed the online shopping boom.
Same with United Continental Holdings — you mess with our pets, we’re moving on.
But in an effort to send that “Irish luck” to the other companies we mentioned, we brought in some bagpipes.
Yes, bagpipes…watch!
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