Business Corpus: Canada Goose Takes Flight On Beijing Store, China Trade Deal HopesCanada Goose surged after crowds flocked to the opening of its first-ever mainland China store. It came as hopes rose for a U.S.-China trade deal. The post Canada Goose Takes Flight On Beijing Store, China Trade Deal Hopes appeared first on Investor's Business Daily.

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Canada Goose (GOOS) gapped up Monday after crowds flocked to the opening of the luxury parka maker's first-ever store in mainland China. It also comes after President Donald Trump raised hopes for a China trade deal with the U.S.

Shoppers braved subzero temperatures Friday as they queued outside to get their hands on the Canadian firm's trademark winter jackets, which were selling for 9,000 yuan ($1,300).

The store opening was delayed amid Canada-China tensions over the Dec. 1 arrest of Huawei Technologies CFO Meng Wanzhou in Canada at the direction of U.S. law enforcement.

Canada Goose Stock Technical Analysis

Canada Goose stock rose 4.6% at 43.72 on the stock market today.

However, the 2017 IPO has tumbled about 40% from its Nov. 14 peak of 72.27. Almost all of the Canada Goose stock losses came after Canada disclosed the arrest of Huawei CFO Meng. The fear is that Chinese consumers would boycott Canada Goose over the incident.

The IBD Stock Checkup tool shows Canada Goose stock has a mediocre Composite Rating of 74, largely reflecting its plunging stock prices. Its EPS Rating of 81 and three year EPS growth rate of 75% gives cause for future optimism.

Canada Goose Stock Gets Beijing Store Boost

There had been pent-up demand for Canada Goose's trendy offerings, according to shoppers who braved the cold to attend the Beijing store opening.

"It's been popular for ages, but Beijing didn't have one, only Hong Kong. So everyone's come to see it," 32-year-old Long Hua, who was waiting outside the store with a friend, told Reuters.

The shop opened two weeks later than initially planned, though Canada Goose blamed construction work rather than diplomatic tensions.

Trump Boasts Of China Trade Deal 'Progress'

Another Canada Goose stock tailwind Monday involves hopes for a U.S.-China trade deal. Trump tweeted Saturday that he had a "long and very good" phone call with Chinese President Xi Jinping and cited movement toward a "comprehensive" China trade deal.

U.S.-China trade talks resume in Beijing in early January. A China trade deal could be a big lift to the global economy and stock markets in 2019.

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The post Canada Goose Takes Flight On Beijing Store, China Trade Deal Hopes appeared first on Investor's Business Daily.