Investing.com - Toy and game makers Mattel Inc (NASDAQ:MAT) and Hasbro Inc (NASDAQ:HAS) moved higher Tuesday, shrugging off the bankruptcy filing of Toys ‘R’ Us.
According to MarketWatch, Toys ‘R’ Us was the second-biggest customer of both toy makers in 2016.
The move higher in the companies shares could be a relief rally following rumors of Toys ‘R’ Ud’s impending bankruptcy. Also, according to UBS, the bankruptcy won’t necessarily result in a loss of demand for the toy makers, as their goods continue to sell through other channels.
Mattel's shares were recently up 0.8%. Hasbro added 1.6%.