Brown’s Thesis: Although the stock reached a new 52-week high today, it’s still about 50% below its all-time high, Brown said, adding that the stock is also significantly below the levels it was at prior to the pandemic.
Malls are “absolutely jammed,” he said. People are buying clothing, makeup and other items related to the reopening because people plan to get out of their homes again, Brown told CNBC.
The company has done a great job acquiring iconic brand name companies, he noted.
“There are a lot of ways to win here with Simon,” Brown said.
Related Link: Josh Brown Says Simon Property Group Could Outperform
Brown is remaining long in Simon Property Group and plans to collect the dividend as the stock continues to slowly trend higher, he said.
SPG price Action: Shares were at $136.70 today for the new 52-week high. At market close Tuesday, they were down to $135.71.
(Photo by LancerE from Flickr.)
For the latest in financial news, exclusive stories, memes follow Fintech Zoom on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.
© 2021 Fintech Zoom.com. Fintech Zoom does not provide investment advice. All rights