Why the Kogan (ASX:KGN) share price is charging higher today

The market may be dropping lower today but that hasn’t stopped the Kogan.com Ltd (ASX: KGN) share price from charging higher.

In afternoon trade, the ecommerce company’s shares are up 1.5% to $16.89.

Why is the Kogan share price pushing higher?

The Kogan share price appears to be charging higher today on the belief that the COVID-19 lockdown in Victoria will give its sales a boost.

This afternoon the Victorian government announced that it would be locking down the state for five days from midnight tonight. This action is being taken in an effort to stop the spread of a highly transmissible strain of COVID-19.

During previous lockdowns, online retailers such as Kogan and Temple & Webster Group Ltd (ASX: TPW) performed very…