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Why Costco Stock Was Heading Lower Today

TheMotleyFool

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Why Costco Stock Was Heading Lower TodayPhoto, wide shot, wide-angle lens, Fashion store, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/4103ce22-87d6-4bef-ba44-0baf5ab280bb.png

Shares of Costco (NASDAQ: COST) were pulling back today after the warehouse retailer delivered solid fourth-quarter results, but they weren't quite strong enough to push the stock up, given its lofty valuation. And management's comments about weakening discretionary spending may have spooked some investors.

As of 10:16 a.m. ET on Friday, the stock was down 2.5%.

Image source: Getty Images.

Source Fool.com

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