Buy Now, Gain Later?
Yesterday, we mentioned that strong Black Friday sales numbers boosted e-commerce-related stocks. And that trend is continuing today with Cyber Monday numbers rolling in. 📝
As a reminder, U.S. Black Friday spending rose 7.5% YoY to a record $9.8 billion as consumers took advantage of big deals. Today, Adobe Analytics’ report indicated that Cyber Monday sales also hit a new record, rising 9.6% YoY to $12.4 billion. Both numbers topped economists’ expectations.