Name of opportunity: 👀
Walmart Inc
Biggest gains: 🏆
The grocery store chain’s stock showed the greatest increase in value on the S&P 500 yesterday, rising by 6.99%. This comes after Walmart released sales figures that showed an increase in sales of 3.8% at most stores, as well as revealing that e-commerce spend has grown 22% over the last year. The company said that the majority of the shoppers spending more were higher income households who were attracted to Walmart for its discount deals.
How hot is this investment opportunity? 🔥🔥🔥
Walmart is currently recommended as a ‘Buy’ by analysts, who think the stock will continue to rise in value - it’s currently valued at $63.90, and they predict it will rise to $66.17. This would give investors who bought $1000 worth of shares a small profit of $35.60.
Analysts say the fact that Walmart has exceeded the expected sales figures shows the company’s ability to effectively make money and continue to grow. The e-commerce growth is especially promising, indicating that Walmart could be a serious online retail contender particularly in the US where the company is based. E-commerce continues to be an increasingly big part of consumer’s spending habits.
The analyst recommendation is leaning closer towards ‘Strong Buy’ than it is to ‘Hold’.
Filling up that cart: 🛒
Walmart is an American multinational chain of supermarkets, with 10,586 stores and clubs in 24 countries. The company owns operations and subsidiaries in Canada, Central America, South America, China and the United Kingdom where it owns the supermarket chain ASDA.
The founder Sam Walton opened his first store in 1945, but the first Walmart store opened in 1962 under the name Wal-Mart Discount City. Walmart stores offer a ‘one stop shop’ to customers, where they can find groceries and toiletries, but also visit an optometrist or shop for anything from new car tires to garden furniture.
Which neme?: 🔍
‘This Week’s Earnings’, ‘Record Setters so far in 2024’, ‘Top Stocks for Recessions’, ‘Largest U.S. Stocks’
