Hasbro, Inc. (NASDAQ:HAS) Is Quick To Recover
Hasbro, Inc. (NASDAQ:HAS) wasn’t spared from the crash that followed the Brexit vote results announcement, but it seems to be recovering from that blow rather admirably.
Most of the NASDAQ giants took a serious beating in the wake of the announcement of Thursday’s results, and quite a few companies, such as Amazon.com, Inc. (NASDAQ:AMZN) and BlackBerry Ltd, (NASDAQ:BBRY) have already made steps towards recovery. What differentiates those companies from HAS is the fact that it didn’t make any big announcements in the wake of the crash, but still managed to recover.
True enough, appointing King Digital Entertainment PLC(NYSE:KING)’s ex-CFO and J C Penney Company Inc. (NYSE:JCP)’s marketing officer into HAS‘s board of directors is an intriguing move. It may be an indication of the direction the company may take in the near future – but is it what caused investors to jump back on board?
One of the other relevant news about HAS that hit the web recently is that Amazon has added Dash Buttons for products belonging to HAS‘s PLAY-DOH and NERF brands. The popularity of the Dash Button feature has grown by about 70% in the last quarter alone – so this news could be more significant than it might first appear.
Additionally, HAS received recognition as the most community-minded company in the Consumer Discretionary industry by Civic 50, which scores some philanthropy points for the games and toys manufacturing giant. Then again, this isn’t really news, since HAS has been known to actively support various charitable activities on a number of occasions.
So, at the end of the day, HAS has already managed to get back on its feet and set out on the road to recovery, in spite of not making any flashy announcements and drawing extra attention in other ways. What does that say about the company?
We’ll leave that for the investors to decide.