Business
Why is the Woolworths (ASX:WOW) share price up 5% in a week?
The S&P/ASX 200 Index (ASX: XJO) has certainly had an interesting week. Over the past five trading days, the ASX 200 is up 0.6%. But that 0.6% hides a ‘2-speed market’.
In one lane, we have seen some ASX tech shares like Afterpay Ltd (ASX: APT) sold off. In the other, we have seen strength from the ASX banks and most of the ASX 200’s blue chip shares. One of those points of strength has been the Woolworths Group Ltd (ASX: WOW) share price.
Yes, Woolworths shares are up roughly 5% over the past five trading days. That’s a pretty strong move for an ASX giant like Woolies. To put this in perspective, Woolworths shares have risen 7.54% on today’s prices since 30 May 2014.
So why the sudden rush to buy this grocery giant?
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