Walmart Plunges Nearly 10%

wmt_logo

WMT (Walmart) stock plunges as higher wages and lower sales cut profits. There could be massive layoffs coming into the 2016 year. The price of Walmart stock is 33% below its 52 week high.

I thought I would never have done this but I sold my NEM holdings for WMT. Just could not pass up this fire sale! Walmart also announced that it will do a 20 billion dollar buy back program for the next 2 years to appease the bad news today.

Advertisements

2 thoughts on “Walmart Plunges Nearly 10%

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s