Phelps Brings Gold to Chico's

Everything Michael Phelps touches seems to turn to gold.  Retailer Chico's FAS (CHS) has been down in the dumps since peaking in February 2006.  But recently the stock has had a good run on the positive side.  It is currently on a 10-day winning streak, closing the day higher 10 trading days in a row.  In the chart below, the red dots highlight the three times that CHS has had a 10-day winning streak.  So where has this winning streak come from out of nowhere?  Michael Phelps of course.  After Michael's mom, Debbie, wore all Chico's clothes in the stands at the Olympics, she inked an endorsement with the retailer in the low six figures.  Over the last ten trading days, the stock is up 41%.

Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.