Is Mattel a good stock for Barbie?

The fashionable doll makes her big-screen debut this week. Mattel ( MAT -1.30%), which has marketed Barbie since 1959, is enjoying the hype over the new Barbie movie. And the toymaker's stock could be on track for its best performance in several years. Are Barbie dollars driving Mattel stock higher?

Did a 'Barbie' movie boost Mattel's stock?

A 'Barbie' movie billboard at Hollywood & Highland this summer in Hollywood, California. (Photo by ... [+] Mattel easily beat expectations for sales and earnings in the third quarter, and raised its earnings guidance for the full year, but the boost it got from the Barbie movie wasn’t enough to lift its stock price.

What happened to Barbie & Mattel?

Warner Bros. Discovery, the parent of the studio that co-produced the movie, slipped 1.6%. Barbie reigned supreme at the box office over the weekend, lifting shares of toy company Mattel on Monday. Mattel shares stood 2% higher in afternoon trading, adding to a 17% rally over the past month.