Mattel, which is an American multinational toy manufacturing company, was the S&P 500’s top gainer on Wednesday. Mattel started this week on a mixed note but regained gained strength as the week progressed. On April 11, Mattel opened the day higher and rallied to four-week high price levels.
Upgrade by Jefferies
The market sentiment on Mattel improved on Wednesday following an upgrade from Jefferies. Stephanie Wissink, an analyst at Jefferies, said that the negative impact of Toys “R” Us going bankrupt has already been priced in Mattel stock. Jefferies upgraded Mattel from “sell” to “hold.” The upgrade gave Mattel a boost on April 11. Mattel gained the most in two months.
On Wednesday, Mattel gained 6.6% and closed the day at $14.41. Mattel is part of the S&P 500 Consumer Discretionary sector, which declined 0.32% on Wednesday.
Next, we’ll discuss the S&P 500’s top losses on April 11.