3 Big Reasons To Like A Beaten Down Walmart Stock
Stocks had a very ugly day on Friday. All the major indices (SPY, DIA, IWM) were down well over 2% on the day as stagflation once again came to the forefront. Gas prices over $5.00 per gallon and rising food prices are putting a crimp in the consumer.
Yet there were still a few stocks that showed glimmers of green during the market massacre. One was the previously punished and pummeled Walmart (WMT).
Most investors are aware of the recent troubles from both Walmart and Target (TGT). Earnings were dramatically affected by rising fuel and labor costs along with an inventory build. While the company lowered profit expectations it actually raised the sales outlook. Still, WMT stock paid the price and dropped over 20%.
Shares, however, are looking decidedly more attractive at $120 versus $150. Here’s three reasons why the worst is likely over for WMT stock.