Wet Seal Stock Jumps on Earnings Projection
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IRVINE — Shares of Wet Seal Inc. rose nearly 14% Monday after the chain of young women’s fashion stores received a vote of approval last week from a stock analyst.
Monday’s gain followed a 20% rise Friday after financial commentator Dan Dorfman reported that money manager Chuck Royce believes Wet Seal will post annual earnings of as much as 30 cents a share for fiscal 1995.
Wet Seal, based in Irvine, closed Monday at $5.13 cents a share in Nasdaq trading, up 62 cents.
Wet Seal officials could not be reached for comment.
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