Why Walmart Stock Slumped by 3% on Wednesday
On Wednesday, (NYSE: WMT) stock was guilty by association in the eyes of the market, a dynamic reflected in a share price drop of nearly 3%.
A top investment bank published a downbeat research note on a major peer in the retail world, and the bearishness spread to Walmart's stock. Overall, however, few investors were enthusiastic about any stocks, as Walmart's decline was only slightly steeper than the S 500's (SNPINDEX: ^GSPC) 2.2% dip.
Before the market open, Goldman Sachs downgraded its recommendation on that peer, Target. The investment bank now rates Target stock only a neutral, one peg down from its previous buy designation.
Source Fool.com
Walmart Inc. Stock
€106.04
0.040%
The stock is an absolute favorite of our community with 99 Buy predictions and no Sell predictions.
With a current price of 106.04 € Walmart Inc. is right around the predicted target price of 107 €.
