This is a trend that should continue through the rest of the year, according to Boris Schlossberg, managing director of FX strategy at BK Asset Management.
"The holiday season itself will essentially be mostly virtual, mostly digital. That should be massively positive for both FedEx and UPS," Schlossberg told CNBC's "Schlossberg does give one of those stocks an edge, though. "Going forward, I really like UPS as a trade here. It's a very, very solid company. The parcel delivery model is what they're optimized to do," Schlossberg said.
"And to boot, they're not that expensive, and the yield is more than 2.5%. … It's a value and potential growth play going into the holiday season. I think as you see these record [sales] numbers explode, the market is going to show some enthusiasm by bidding the stock up.""UPS has broken out above its previous high this year," he said during the same "Trading Nation" segment. "If it stays above $166 the path of least resistance is absolutely higher.
YOU NEW to FOREX? Minimize your losses with my expert strategy with an investment capital of $300, i can guarantee $3,500 as profits after 5days of investment without sending money to anyone . Inbox me if interested. 📈
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »