What happened
Shares of outdoor and camping retailer Camping World (CWH 2.79%) rising as much as 10.3% Tuesday, before moderating back to close the day up 7%.
The stock's gain was likely fueled primarily by bullishness in the overall market on Tuesday as investors consider the implications of a gradual reopening of the U.S. economy. In addition, some investors may be betting the company's earnings report this week will bring good news.
So what
Market indices rose somewhat on Tuesday. The S&P 500 was up 0.9% on the day and the Nasdaq had gained 1.1%. Many state governors continued to announce their plans for gradually reopening their states and reducing restrictions. Also driving bullishness in the market, oil prices shot higher for a fifth day in a row, though they remained below $25 a barrel.
At this point, it is still unclear what impact the COVID-19 pandemic has had on Camping World's business. Some investors have wondered whether demand for its products could actually move higher as summer draws closer since camping could be a good social-distancing-friendly vacation activity compared to trips that require air travel or hotel stays.
Now what
Investors will get a better idea of how the pandemic is affecting Camping World when the company reports its first-quarter results after market close on Thursday.