This Stock Should Continue Soaring Higher

Today, we’re highlighting a company that’s thriving as people look for ways to stay active…

The coronavirus has caused a shift in how people spend their time. Now, folks are focusing on getting outside and pursuing fitness on their own. That’s driving sales of athletic apparel, shoes, and other products. And it’s providing a boost for today’s company…

Dick’s Sporting Goods (DKS) is a $5 billion one-stop-shop for sporting goods. And its products have been in high demand because of coronavirus lockdowns, even as its stores were closed.

In the company’s second quarter, online sales surged an incredible 194%. This helped drive overall net sales growth of 20.1% to $2.7 billion during that period.

Dick’s CEO Ed Stack said the company was in a “great lane” to take advantage of the new focus on getting outside.

As you can see in today’s chart, DKS shares have soared off their March lows. The stock has more than tripled over that time frame, and it recently hit a fresh multiyear high.

As long as people spend time and money on their favorite outdoor activities, this stock should continue higher…

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Source: Daily Wealth’s Market Notes