The demand for office space in the U.S. is a topic of interest, especially in major cities like New York City. This has led CNBC TV’s Diana Olick to report on the state of office demand on Thursday.
SL Green has seen an impressive increase of roughly 12% in just a month, with a 20% gain in three months. However, the stock has dropped 11% since hitting its peak in July.
Vornado has also shown strong performance, with a 16.6% increase in a month and a 24% gain in three months. Despite this, the stock is currently 7% below its December high.
CBRE has surged by 22% in a month, but has faced a 7% drop from its July 31st high. Similarly, BXP has seen a 12% increase in a month and an 11% rise in three months. However, the stock is currently 8.7% lower than its December high.
Eli Lilly has performed exceptionally well, with a 32.5% increase so far in 2024. Despite this, the stock is 20% below its July high and has remained flat over the past three months.
Under Armour and Capri Holdings are also in the spotlight, with Under Armour reporting before the bell and Capri Holdings reporting after the bell. Class C shares of Under Armour have seen a 4.4% decline over the past three months, with the stock now 30% below its December high. On the other hand, Capri Holdings has faced a 13.7% decrease in three months and is now 41.5% lower than its peak almost a year ago.
Etsy hit a four-year low on Wednesday, marking a 40% decrease from its December high and an 18% drop in just one week. Ulta Beauty also hit a 37-month low on Wednesday, with a 44% decline from the March high and a 12% decrease in a week. Dollar Tree hit a 34-month low, further highlighting the challenges faced by certain stocks in the current market.
While some stocks have shown impressive gains in recent months, others have faced significant declines. It is crucial for investors to keep an eye on the state of office demand and stock performances to make informed decisions in the ever-changing market.
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