Why Costco Stock Dropped Today
Costco Wholesale (NASDAQ: COST) slid 3.6% through 2:25 p.m. ET Monday after Wall Street bank Roth Capital downgraded the shares from neutral to sell, and set a $769 price target on the $852 stock.
Roth says it finds Costco's metrics "concerning," reports TheFly.com today, noting that same-store sales growth and member additions are both decelerating, and membership renewals are "fading."
Image source: Getty Images.
Source Fool.com
