Why Walmart Plunged Today
Shares of (NASDAQ: WMT) fell 4.5% on Wednesday as of 1:05 p.m. EDT. The day's fall marks an extension of a recent pullback in Walmart shares, which are now down nearly 20% from their May highs.
Today, a Wall Street analyst issued a negative note on Walmart's same-store sales, leading to another leg down in this month-long pullback.
Today, sell-side research firm Cleveland Research published a note on Walmart, stating that its channel checks showed a slowdown in same-store sales. The analyst noted that Walmart may be lowering prices to clear excess inventory, which the company may offset with tariff refunds. As a result, the analysts questioned whether Walmart will be able to beat its sales guidance for the quarter, which ends at the end of July.
Source Fool.com
Walmart Inc. Stock
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