logo
Plus   Neg
Share
Email

Stock Alert: RH Stock Sets New All-time High

Shares of Upscale furniture chain RH (RH) are on a tear, on the heels of an upbeat annual forecast. Today, the stock set a new all-time high of $239.88.The stock is up more than 20% from its Dec 3 opening price of $196.66, and currently trading at $237.8, and nearly three-times its 52-week low of $84.11.

A Nov 15 regulatory filing that said Warren Buffett's Berkshire Hathaway had bought $206 million shares of RH in the third quarter is also helping the stock, a lot actually.

While most retailers invest in growing their digital business, RH says it continues to believe in creating a physical store experience that cannot be replicated online. The company cites a vertically integrated real estate development model with low capital requirements and occupancy costs, plus the discipline of driving high-quality profitable growth, as reasons for its expanding operating margins, and significant free cash flow generation.

In its recent earnings conference call, the company did not show much anxiety regarding the trade deal with China. Calling China a great partner, the company said it expects a trade deal to be worked out, and even if that did not happen, there were other options.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pfizer said Friday it reached a multi-year deal with Gilead Sciences to manufacture and supply Gilead's investigational antiviral remdesivir for COVID-19 patients. Ferring Pharmaceuticals US is recalling various nasal sprays citing superpotency or amounts of desmopressin higher than specified, the U.S. Food and Drug Administration announced in a statement. The recall involves all lots on the market of DDAVP Nasal Spray 10 mcg/0.1mL, Desmopressin Acetate Nasal Spray 10 mcg/0.1mL, and STIMATE Nasal Spray 1.5 mg/mL. U.S. President Donald Trump has issued executive orders to ban Chinese mobile application TikTok as well as WeChat, citing a threat to national security and its economy. China's ByteDance Ltd. owns TikTok, a video-sharing mobile app, while Tencent Holdings Ltd. owns WeChat, a messaging, social media, and electronic payment app.
RELATED NEWS
Follow RTT