Charles Schwab (SCHW) Shares Soar 1.36% to 52-Week High

Charles Schwab Corporation (SCHW) shares surged 1.36% today, marking the second consecutive day of gains, with a total increase of 1.97% over the past two days. The share price reached its highest level since March 2022, with an intraday gain of 1.53%.

The strategy of buying SCHW shares after they reached a recent high and holding for 1 week showed underperformance. The annualized return was -3.4% over the past 5 years, significantly lower than the market average. This indicates that relying on recent highs and short-term holding periods may not be an effective strategy for long-term capital appreciation.

Charles Schwab's stock performance has been positively influenced by several factors. Firstly, the stock reached a new 52-week high, surpassing its previous peak, which indicates strong market performance. Additionally, Morgan Stanley boosted their target price for Charles Schwab shares, giving them an "overweight" rating, suggesting confidence in the company's future growth. Furthermore, Schwab's client growth has been impressive, with total client assets reaching $9.93 trillion, marking a 9% increase year-over-year and a significant jump in core net new assets. These factors collectively contribute to the positive outlook for Charles Schwab's stock price.