Analysts have raised questions regarding the growth trajectory of Michael Kors Holdings Ltd., but investors don’t seem to share those concerns.
Investors are shrugging off Tuesday’s sell-off of Kors’ stock, sending shares back up for the second consecutive day. The stock rose 0.9 percent to close Thursday’s trading session at $81.86. Shares of Kors rose even higher in early-morning intraday trading, hitting as high as $83.92, or up nearly 3.5 percent, from Wednesday’s close of $81.10. Wednesday’s close was up 2.1 percent from the sell-off Tuesday, which saw the stock fall to $79.44. More than 6.4 million shares changed hands Thursday, compared with a three-month average trading volume of 3.1 million shares.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"