Why Designer Brands Is Soaring 32% Today
Shares of Designer Brands (NYSE: DBI) were soaring 32% in morning trading Monday on no discernable news specific to the footwear specialist. The market itself was largely flat in early trading, with the major indexes up or down less than a percentage point, making Designer Brands' movement all the more notable. There have been several stocks such as GameStop and Bed Bath & Beyond that have seen their shares go stratospheric as short-sellers raced to cover their positions, but it's not necessarily what's happening here.
