Why Primo Brands Corporation (PRMB) Went Up Last Week?

We recently published a list of 10 Stocks Outperform Broader Market Last Week. In this article, we are going to take a look at where Primo Brands Corporation (NYSE:PRMB) stands against other stocks that outperformed broader market last week.

Wall Street’s main indices traded lower week-on-week as investor sentiment continued to be dragged by the ongoing trade tensions globally.

The tech-heavy Nasdaq was down by 2.59 percent versus its level on March 21. Meanwhile, the S&P 500 declined by 1.5 percent and the Dow Jones dropped by 0.956 percent.

Ten individual stocks, on the other hand, managed to stay stronger, three of which were particularly notable as funds flocking to gold assets spilled over into their stocks.

In this article, we listed last week’s 10 top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million trading volume.

Top 20 Brands Among Gen Z in the US by Mindshare

Primo Brands Corporation (NYSE:PRMB)

Shares of Primo Brands grew by 9.32 percent last week to finish at $35.3 apiece versus the $32.29 closing price on March 21, or the Friday prior, as investor optimism was largely fueled by an influencer’s content showing a specific bottled water produced by the company.

In his TikTok video, which has already gathered 104.4 million views as of this writing, influencer Ashton Hall elaborated on his morning routine, doing a flurry of activities as early as 4 AM. The video briefly showed Saratoga Water, piquing investor interest in its parent firm and producer, PRMB.

PRMB is the company that emerged following the merger of Primo Water and BlueTriton Brands. Apart from Saratoga Water, it also owns other brands, namely Ice Mountain, Pure Life, and Poland Spring.

Overall, PRMB ranks 8th on our list of stocks that outperformed broader market last week. While we acknowledge the potential of PRMB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as PRMB but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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