Mossimo Shares Hit 52-Week High
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Mossimo Inc. shares hit a 52-week high on Thursday, continuing an upward swing that began early this month when a former Tommy Hilfiger Inc. chief executive took the reins at the Irvine apparel designer.
The shares hit $12.25 in New York Stock Exchange trading on Thursday, before closing at $11.88, up $1.63. Just three months ago, the share price had sunk to $1, a 52-week low. About 292,200 shares changed hands, more than twice the average daily volume of 110,712 for the past three months.
The upturn followed founder Mossimo Giannulli’s Dec. 1 announcement that he had relinquished half of his stake in the company to claim industry heavyweight Edwin Lewis as Mossimo’s new chief executive. Since then, five former Tommy Hilfiger executives have left the New York company to sign on with the much smaller Mossimo.
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