While Wall Street has been busy talking about Nvidia and AI, another stock has had an even CRAZIER rise in 2024 and no one is talking about it..

It's name? Abercrombie & Fitch

Over the past 18 months, the unremarkable apparel stock (NYSE:ANF) has quietly climbed more than 1000%, soaring under the radar in the face of the 'AI revolution' as an old-fashioned clothing brand.

Where did this come from?? It feels like a few years ago the market had written the stock off. Now it's having an even better year than the most-hyped stock on the market (Nvidia)

We went back and analyzed all Abercrombie & Fitch news coverage over the past 18 months to dissect the events that affected its price most.

Here are the top 6 events that moved the needle for the stock:

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1. January 2023 → Net Sales Hit $1B

Q4 2022 earnings showing a 12% increase in net sales, eclipsing $1B for the first time. They also raised their full-year 2023 outlook on rebounding post-COVID apparel forecasts; the stock climbed +10% the next day

2. June 2023 → Expansion to Asia, Europe

A&F announced its expansion into several new international markets, including Asia and Europe, aiming to double its global footprint. The stock popped 31% on this news

3. September 2023 → Giant Back-to-School Revenues

Building on momentum from new product lines and a renewed influencer marketing strategy, A&F's revenues hit $1.1B in September on strong back-to-school sales (a 15% increase year-over-year). The stock jumps another 22%

4. February 2024 → Analyst Upgrades Boost Sentiment

Recognizing A&F's rise, Jeffries and other rating agencies give the stock a 'Buy' rating and increase their price targets, citing robust sales and strong brand repositioning. These upgrades spur more investor confidence like a flywheel, sending the stock up another 13%

5. March 2024 → More New Product Lines

The company launches its A&F Wedding Shop product line aimed at a completely new (and absolutely gigantic) market segment: wedding attire. Investors are extremely bullish on the strategic expansion, and the stock bumps up another 15% over the next few days

6. May 2024 → Record-Breaking Net Sales

On their Q1 2024 earnings report, A&F reports record breaking net sales above $1.B, a staggering increase of more than 25% year-over-year. Following the report, analysts at Citigroup and UBS raise their price targets even further. Shares of the stock jump another +28%

It all goes to show, hype and success are two different things. And when an unsung company adapts, focuses on strategic expansion, and operational excellence, the market will recognize sooner or later.