Guess which ASX retail share is rebounding 22% on Thursday?

Happy girl shopping at clothes shop.

Happy girl shopping at clothes shop.The All Ordinaries Index (ASX: XAO) is down 1% in early afternoon trade, but this ASX retail share is bucking the selling trend.

Big time.

Having earlier posted gains of more than 30% the Mosaic Brands Ltd (ASX: MOZ) share price is currently up 22%.

The specialty fashion retailer owns a number of name brands including the popular Noni B.

Why is the ASX retail share rocketing?

With no fresh news out from the company today, it looks like investors may be driving up the Mosaic Brands share price following yesterday’s 53% selloff.

Investors punished the ASX retail share after it released an announcement yesterday revealing that difficult trading conditions related to the pandemic will likely result in a full year loss for the 2022 financial year. Management forecast the full year loss despite Mosaic Brands delivering a profit in the first half of the financial year.

The company said, “The May trading month, which included the key Mother’s Day period, continued to see overall trading conditions improve gradually, however at a rate that was below expectations, as our core customers remained highly cautious of the ongoing risks associated with Omicron.”

The ASX retail share closed at 20 cents yesterday and is currently trading for 25 cents.

Year-to-date the Mosaic Brands share price remains down a painful 61%.

The post Guess which ASX retail share is rebounding 22% on Thursday? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Mosaic Brands right now?

Before you consider Mosaic Brands, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Mosaic Brands wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

More reading

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/qFCoSQs

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s