Newell Brands Inc. (NWL) Ends Trading Week Defying Market Bloodbath

We recently compiled a list of the 10 Firms End Trading Week Defying Market Bloodbath. In this article, we are going to take a look at where Newell Brands Inc. (NASDAQ:NWL) stands against the other stocks.

A wave of selling gripped Wall Street this Friday, pushing major indices lower as investors shifted capital towards more attractive investment opportunities.

Ten companies bucked an overall bearish market sentiment, booking significant gains during the last trading day of the week. Let’s explore how they managed to buck the trend and what factors contributed to their remarkable performance amidst widespread market uncertainty.

A technician inspecting a commercial kitchen appliance in a factory line.

Newell Brands Inc. (NASDAQ:NWL)

Newell Brands (NWL) bucked an overall market downturn on Friday, clocking in another gain for a fifth consecutive day—up by 0.88 percent to end at $10.28 apiece. Year-to-date, the company’s stock price registered a 17.62-percent increase.

Despite the lack of a clear catalyst to perk up its share price, analysts believed investor confidence was buoyed by the company’s positive outlook, with its CEO Chris Peterson announcing that a “transformation is well underway” for the firm and that it would leverage AI to grow its business.

“The macroeconomic backdrop is still uncertain, we are confident that the actions we are taking and the capabilities we are building are laying a solid foundation for the company’s future,” he said.

During the third quarter of the year, the company was able to slash its net loss by $20 million to $198 million.

Overall NWL ranks 6th on our list of the firms that ended the trading week defying market bloodbath. While we acknowledge the potential of NWL 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 timeframe. If you are looking for an AI stock that is more promising than NWL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.