Wolverine Worldwide, Soho House, Funko, Manitowoc, and Columbus McKinnon Stocks Trade Up, What You Need To Know
A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +2.0%, S&P 500 +1.5%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025.
Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
Footwear company Wolverine Worldwide (NYSE:WWW) jumped 5.1%. Is now the time to buy Wolverine Worldwide? Access our full analysis report here, it's free.
Travel and Vacation Providers company Soho House (NYSE:SHCO) jumped 5.1%. Is now the time to buy Soho House? Access our full analysis report here, it's free.
Toys and Electronics company Funko (NASDAQ:FNKO) jumped 5.6%. Is now the time to buy Funko? Access our full analysis report here, it's free.
Construction Machinery company Manitowoc (NYSE:MTW) jumped 5.5%. Is now the time to buy Manitowoc? Access our full analysis report here, it's free.
General Industrial Machinery company Columbus McKinnon (NASDAQ:CMCO) jumped 6.2%. Is now the time to buy Columbus McKinnon? Access our full analysis report here, it's free.
Columbus McKinnon's shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Columbus McKinnon is down 51.9% since the beginning of the year, and at $17.78 per share, it is trading 59.5% below its 52-week high of $43.93 from May 2024. Investors who bought $1,000 worth of Columbus McKinnon's shares 5 years ago would now be looking at an investment worth $564.09.
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