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Retail Starting To Bounce, Will Trigger Surge In $SPG: See Why And Profit

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Retail stocks are beginning to see massive short covering and surges after consumer confidence came in at the highest levels since 2000. Shares of Sears Holdings (SHLD) are up almost 100% in the last month, J C Penney (JCP) is jumping higher as consumer confidence is likely to lead to more spending. One of the classic beneficiaries of a retail surge will be Simon Property Group Inc (NYSE:SPG). This is a REIT company that owns many of the malls and strip malls where these stores operate. Simon Property Group is down sharply from its 52 week highs. In July 2016, Simon Property Group was trading at $225. It just likely put in a major bottom at $160. The stock is about to make a surge higher and investors should be piling in on the long side. The near-term upside target is $205.00.

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Investors buy shares of Simon Property Group Inc for surge


This article was written by Tony Jackson for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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