Why Costco Stock Was Slipping Today
Shares of Costco (NASDAQ: COST) were heading lower today, even as the broad market jumped, overcoming an initial sell-off on a hotter-than-expected September jobs report this morning. The culprit sending Costco shares lower today seemed to be the same one that hit Coca-Cola and Pepsico yesterday.
Investors are fearful that weight-loss drugs like Ozempic are impacting grocery sales. In fact, a Walmart exec told Bloomberg that it was starting to notice an impact from the drugs in an interview published yesterday.
As of 11:49 a.m. ET, Costco was down 3.1%, while Walmart had fallen 3.2% at the same time, and other consumer staples stocks were down, as well.
Source Fool.com
Walmart Inc. Stock
The stock is one of the favorites of our community with 70 Buy predictions and 1 Sell predictions.
With a target price of 155 € there is potential for a 158.12% increase which would mean more than doubling the current price of 60.05 € for Walmart Inc..