Why Skechers U.S.A., Inc. (SKX) Soared on Monday
The stock market kicked off the trading week on a negative note as investors sold off on a new round of uncertainties from President Donald Trump's tariff policies.
The Nasdaq fell by 0.74 percent, while the S&P 500 dropped 0.64 percent and the Dow Jones was down by 0.24 percent.
Over the weekend, Trump told reporters that the US was negotiating with many countries, 'but at the end of this, I'll set my own deals — because I set the deal, they don't set the deal.'
He added that he had no intentions to talk with Chinese President Xi Jinping, dampening hopes of a potential negotiation between the two of the world's largest economies.
Beyond the major indices, 10 companies stood out with strong gains amid a flurry of fresh developments. In this article, we name Monday's 10 best performers and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
Why Skechers U.S.A., Inc. (SKX) Soared on Monday
A sportsperson running with style and grace, embodying the company's performance footwear.
Skechers U.S.A., Inc. (NYSE:SKX)
Skechers USA soared by 24.35 percent on Monday to end at $61.39 apiece as investors gobbled up shares following news that private equity firm 3G Capital is set to acquire the company for $9.4 billion.
In a statement, 3G Capital agreed to acquire shares of Skechers U.S.A., Inc. (NYSE:SKX) at a price of $63 apiece. The price represented a premium of 30 percent to the shoemaker's 15-day volume-weighted average stock price.
'With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital. Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the company's long-term growth,' said Skechers U.S.A., Inc. (NYSE:SKX) Chairman and CEO Robert Greenberg.
Greenberg will continue to lead the company even with the assumption of the new management.
Overall, SKX ranks 1st on our list of Monday's best performers. While we acknowledge the potential of SKX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SKX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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