Dave and Busters is Rocketing Higher and Nothing Can Stop It

Shares of hard-hit Dave and Busters PLAY rallied sharply on Friday. PLAY closed at $15.07 on Thursday, surged above $17 before noon. The stock is 70% lower than its 52-week high of $48.80. The 200-day moving average is well overhead at $24.68. The stock is trading above its 50-day moving average at $13.62. The post-COVID high is $23.33 and should provide plenty of resistance. Last quarter’s $1.37 per share loss and $159.8 mil in sales missed expectations. The company cut capex to $68 million to weather the COVID pandemic. PLAY has reopened several locations with reduced capacity and shortened hours. The company is set to rebound nicely once COVID restrictions are lifted.

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