Shares of Stitch Fix (NASDAQ: SFIX) were rising 8.6% this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence, rebounding from last week's sharp 23% plunge. The online fashion subscription service has been largely moving higher all week long on no company-specific news, and on Black Friday, may be benefiting from investor hope that consumers will be looking Stitch Fix's way heading into Christmas. Stitch Fix seemingly hits all the right notes when it comes to what consumers are looking for.
Stitch Fix (SFIX) closed the most recent trading day at $3.70, moving -1.07% from the previous trading session.
The online styling and fashion website didn't release any company-specific news but is likely getting hurt by high short interest and worrying trends in the apparel space in late 2022. Stitch Fix is an online styling service that helps people discover new clothes and fashion items to wear. On top of this, industry analysts are expecting fashion spending to decline in late 2022 due to high inflation and a potential recession induced by the Federal Reserve raising interest rates.