Diamonds and Dogs
Investors are heading to the slopes. With the Dow coming up short once again to touch 20,000, it looks like investors have decided to start the three day weekend a little early and go skiing. Vail Resorts (MTN) is jumping 2% not far from all-time highs thanks to better than expected ski season metrics with North American season-to-date total lift ticket revenue up 4.3% year over year. Vali has had very strong season pass sales growth leading up to the ski season along with recent snow storms particularly out West creating outstanding conditions for guests to enjoy across all their Western resorts.
GameStop (GME) has stopped going up. The video game retailer dropped 8% not far from a 52 week low after same-store sales plummeted nearly 19% during the nine-week holiday period through December. The retailer has had a rough couple of years, hurt mainly by the shift to digital game downloads and away from packaged media. In response, GameStop has diversified its business from video games to mobile devices and pop-culture collectibles.