Sothebys (BID) : Traders are bullish on Sothebys (BID) as it has outperformed the S&P 500 by a wide margin of 14.96% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.35%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.28% in the last 1 week, and is up 18.82% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 11.61% and the 50-Day Moving Average is 10.74%. Sothebys is up 18.91% in the last 3-month period. Year-to-Date the stock performance stands at 25.74%.
Sothebys (NYSE:BID): On Fridays trading session , Opening price of the stock was $32.94 with an intraday high of $33.06. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $32.1. However, the stock managed to close at $32.39, a loss of 2.00% for the day. On the previous day, the stock had closed at $33.05. The total traded volume of the day was 1,152,341 shares.
Sothebys is a global art business company. The Company operates in three segments: Agency, Principal and Finance. The Companys Agency segment accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers (also known as consignors) to buyers through the auction or private sale process. The Companys Principal segment is engaged in the sale of artworks that have been purchased by Sothebys, including property acquired for sale at auction in the near term in lieu of the Agency segment providing an auction guarantee to a potential consignor. The Companys Finance segment provides certain collectors and art dealers with financing secured by works of art that Sothebys either has in its possession or permits borrowers to possess.