Home Trending Stocks Why Birks Group Inc. (BGI) stock is Rising Today?

Why Birks Group Inc. (BGI) stock is Rising Today?

Shares of the Birks Group Inc. (BGI) stock were rising in the pre-market trading session today on May 17, 2021, after recording the gain of 16.34% at the previous closing. BGI stock price rose by 1.70% to reach $2.39 a share as of this writing. The rising BGI stock price is not the result of any news announced by the Birks Group in recent times. Let’s try to understand more of it.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

What’s Happening?

There is no specific reason associated with BGI stock to justify the bullish trend so far. No announcement by BGI stock, no recent earning report, no analysts’ upgrades or increased targeted per share price support the BGI rally. This situation usually arises in the stock market and confuses the investors in decision-making. For your convenience, let’s discuss some past events of Birks Group.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Read More

Sales Results of FY 2021 Holiday Season:

BGI stock at the mid of January announced its sales results of the FY 2021 holiday period from November 1, 2020, through December 26, 2020, according to which net sales for BGI stock were 0.2% lower than the previous year. The reason for this decline was governmental restrictions in certain regions of Canada due to the outbreak of COVID-19. This result in the closure of in-person shopping for 7 out of 29 retail locations of the BGI stock in the holiday season.

The remaining stores’ sales were increased by 6.8% in the holiday period. Increased online shopping trend due to the “Stay Home, Stay Safe” slogan resulted in the 176.0% increased eCommerce sales for BGI stock in the holiday season. Considering the high rate of online shopping, BGI stock invested in digital equipment in order to provide the facility of high-quality video shopping to its clients.

COVID-19 Impact:

Many businesses were affected by coronavirus escalation across the globe and BGI stock is one of them as Its six Ontario stores were temporarily closed for in-person shopping because of provincial restrictions caused by the second wave of COVID-19. Many other stores were also temporarily closed in Quebec for most of the holiday season.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion:

BGI stock price is continuing the rising momentum despite the absence of any particular reason associated with it. Though Birks Group’s business was greatly hit by COVID-19, but its growth in the eCommerce business has reduced the damage to some extent. Now the rollout of the vaccine has reduced the chances of spreading this deadly pandemic and the future looks bright for BGI stock. 

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Vista Gold Corp. (VGZ) stock soars during pre-market trading. Here’s what you should know

Vista Gold Corp. (NASDAQ: VGZ) stock gained by 17.65% in the pre-market trading session. Vista is a project developer with a gold rating. The...

Novan Inc. (NOVN) stock soars during pre-market trading. What’s driving it high?

Novan Inc. (NASDAQ: NOVN) stock gained by 62.39% at last close whereas the NOVN stock price surged by 0.82% in the pre-market trading session....

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Avenue Therapeutics Inc. (ATXI) stock plunged during pre-market trading. What’s behind this?

Avenue Therapeutics Inc. (NASDAQ: ATXI) stock declined by 28.27% at last close while the ATXI stock price falls during pre-market as well, by 8.94%....

Related News

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Vista Gold Corp. (VGZ) stock soars during pre-market trading. Here’s what you should know

Vista Gold Corp. (NASDAQ: VGZ) stock gained by 17.65% in the pre-market trading session. Vista is a project developer with a gold rating. The...

Novan Inc. (NOVN) stock soars during pre-market trading. What’s driving it high?

Novan Inc. (NASDAQ: NOVN) stock gained by 62.39% at last close whereas the NOVN stock price surged by 0.82% in the pre-market trading session....

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam