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Hasbro (HAS) shares were up 8.39% in the past three months and managed to climb approximately 7.67% in the past five days.
Hasbro Inc (NASDAQ: HAS) stock jumped 3.82% on Tuesday to close the day trading at $81.24. During Wednesday’s premarket, the company’s shares were trading around yesterday’s close but down approximately 0.10%. The jump is attributed to the Hasbro news that it has released a line of new products that were unveiled during its Hasbro PulseCon. Some of the new products include Transformers inspired toys and those inspired by GhostBusters.
The company indicated in its official webpage:
“Transformers fans have a number of new action figures to collect”.
Although Hasbro Inc. is a family setup oriented company, its shares have not bloomed during the initial phase of the pandemic as observed with other stock markets like Tesla Inc (NASDAQ: TSLA) and pharmaceutical companies. According to figures provided by MarketWatch, Hasbro stock has dropped 23.08% in value in the past nine months. Its year to date performance has been negatively impacted by the ongoing coronavirus pandemic. Notably, Hasbro shares were up 8.39% in the past three months through Tuesday and have managed to climb approximately 7.67% in the past five days.
Hasbro New Products and Fundamental Aspects
With the company having years of experience in its field, institutional investors feel confident with the ability of the company to deliver beyond the pandemic. As of August 2020 over 80% of its shares were held by large financial institutions. Hasbro Inc. had a market capitalization of around $10.72 billion with 137.02 million outstanding shares as of the time of publication.
With 17 credible Wall Street analysts who are interested and focused in the company, Hasbro shares received an average of Over rating. Perhaps their decision is informed by the fact that the humanity lifestyle might never be the same again post-COVID, and children might end up spending more time around their homes in the future.
According to the company, the first toy in the line of Ghostbusters is the Kenner Classics Ghostpopper. However, although customers can pre-order their units, deliveries are set to begin early next year. Hasbro indicated:
“The blaster comes with original deco and packaging from kenner inspired by the 80s as well as three ghost targets for you to bring down. You can pre-order the Ghostpopper from Walmart now for $19.99 and it will be available on January 1, 2021”.
On the other hand, the Transformers’ line of toys including the Core Class Optimus Prime, Rattrap, and Vertebreak will be available for $9.99. In addition, the Deluxe Cheetor, Blackarachnia, Warpath, and Paleotrex Fossilizer figures will be $19.99; the Voyager Cyclonus will be $29.99; and the Leader Megatron (Beast) will cost $49.99.
Notably, pre-orders are live now over at Hasbro Pulse and Walmart Inc (NYSE: WMT).