How Did Walmart Stock Gain 72% Last Year?
Few would dispute that (NYSE: WMT) is a solid investment. But a 72% gain over the course of just one calendar year? Many of the market's most attractive growth stocks didn't even fare that well in 2024.
What did the retailer do so differently? Not much, actually. The backdrop just changed, forcing investors to finally recognize how durable this company's been all along.
To fully understand why Walmart stock did so wall last year, one must go all the way back to 2020. The COVID-19 pandemic was in full swing then, working in the retailer's favor. But by 2021, red flags were waving. Like so many other retailers, this one loaded up on too much inventory in anticipation of a spending rebound that was muted by inflation that ended up lingering far longer than expected. That's why even by mid-2023, Walmart stock was no higher than it was as of late 2020.
Source Fool.com
Walmart Inc. Stock
The stock is one of the favorites of our community with 102 Buy predictions and 1 Sell predictions.
With a target price of 101 € there is a slightly positive potential of 1.6% for Walmart Inc. compared to the current price of 99.41 €.
Comments
