Tuesday , November 29 2022
Home / Crypto news / Walmart (WMT) Stock Hits New Record, Adds 2.78% While the Whole Market Is in Red

Walmart (WMT) Stock Hits New Record, Adds 2.78% While the Whole Market Is in Red

Summary:
For Walmart, the coronavirus outbreak has taken a beneficial turn, as the demand for some categories of goods and the number of deliveries have notably increased. This week, Walmart (WMT) stock cleared the 125.48 buy point.While the whole market is in the red because of coronavirus, Walmart Inc (NYSE: WMT) stock maintains its position. Moreover, it has managed to jump and reach a new high.On Wednesday, Walmart (WMT) stock got a second upgrade this week and cleared the 125.48 buy point. It closed at 2.58, having gained 2.78%. Today, it was 4.70 during the pre-market sale. At the moment of writing, the retail corporation’s shares are trading at Meanwhile, the other stocks are dropping. Tesla Inc (NASDAQ: TSLA) stock is 16.03% down, which resulted from the order of Bay Area’s local

Topics:
Daria Rud considers the following as important: , , , , , , , , , , , , , , , , , , ,

This could be interesting, too:

Nick Marinoff writes Elon Musk Is Still Holding onto Some BTC

Nick Marinoff writes Poll: Residents of El Salvador Aren’t Into BTC

Ibukun Ogundare writes Crypto Fraud in UK Claims 32% to £226M amid Recession

Tolu Ajiboye writes Carlyle Raises B Worth of Funding to Invest in European Tech

For Walmart, the coronavirus outbreak has taken a beneficial turn, as the demand for some categories of goods and the number of deliveries have notably increased. This week, Walmart (WMT) stock cleared the 125.48 buy point.

While the whole market is in the red because of coronavirus, Walmart Inc (NYSE: WMT) stock maintains its position. Moreover, it has managed to jump and reach a new high.

On Wednesday, Walmart (WMT) stock got a second upgrade this week and cleared the 125.48 buy point. It closed at $122.58, having gained 2.78%. Today, it was $124.70 during the pre-market sale. At the moment of writing, the retail corporation’s shares are trading at

Meanwhile, the other stocks are dropping. Tesla Inc (NASDAQ: TSLA) stock is 16.03% down, which resulted from the order of Bay Area’s local sheriffs’ department to close the factory in Fremont. Apple Inc (NASDAQ: AAPL) stock is 2.45% down, even after the company released a new MacBook Air and iPad Pro. Facebook Inc (NASDAQ: FB) stock has slightly plunged by 1.65%. Shares of transport companies are also suffering losses. For instance, Uber Technologies Inc (NYSE: UBER) stock was as much as 14% down yesterday.

For Walmart, the coronavirus outbreak has taken a beneficial turn, albeit temporary. As the demand for some categories of goods and the number of deliveries have notably increased, Walmart and other retailing chains benefit from consumer stock-up activities.

Analysts at Credit Suisse said:

“We see this unfortunate period accelerating structural changes in consumer shopping, possibly by five-plus years, as they are introduced to new retailers and new shopping methods including online grocery and delivery, and further consolidate purchases at multi-category, multi-channel retailers.”

Walmart US CEO John Furner said:

“We’ve got a lot of categories that have seen extraordinary growth levels in the past few weeks. This started in over-the-counter pharmaceuticals, then food and consumables, and now it’s moving into our food businesses.”

Last week, Walmart decided to change operating hours in its stores. Now they are from 6 a.m. to 11 p.m. Some Walmart stores are open 24 hours.

Is Walmart (WMT) Stock Worth Buying?

Some believe that Walmart shares are quite risky to buy now, as this growth effect is temporary. At the beginning of 2020, before coronavirus enthralled the world, they showed not a very good performance. Walmart’s earnings for the 2019 fourth quarter disappointed the market and fell short of expectations. But the trust in the company seemed to rebound after it announced working on a new service Walmart+ that may surpass Amazon Prime.

Strategic Wealth Partners chief Mark Tepper believes that Walmart stock is worth buying. According to Tepper, Walmart is a part of the so-called DAWN strategy offered by the analyst. Other companies to invest in are Domino’s Pizza Inc (NYSE: DPZ), Activision Blizzard Inc (NASDAQ: ATVI), and Netflix Inc (NASDAQ: NFLX).

Notably, Walmart is one of the best-performing Dow stocks this month. It’s up to you to decide whether to buy its stock or not. In the short-run, it is definitely a good investment.

Business, Editor's Choice, Markets, News, Stocks
Daria Rud
Author: Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *