Wal-Mart Stores, Inc. (NYSE: WMT)
Wal-Mart Stores is having an incredibly rough start to the day in the market today. As soon as the bell rang, the stock took a turn for the worse, falling well into the red. We believe that we’ve uncovered the reason for the fall. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from WMT ahead.
What We’re Seeing From WMT
As mentioned above, Wal-Mart Stores is having an incredibly rough start to the trading session today. Unfortunately, the stock has been tanking since the open bell, which was just a few minutes ago. Currently (9:38), WMT is trading at $70.75 per share after a loss of $0.64 per share, or 0.90%.
Why Is The Stock Falling
As soon as the spike started, the CNA Finance team started doing some digging to see exactly what was happening. Unfortunately, there was no fundamental news that would give us a slam dunk cause for the WMT declines. However, we did find something.
Right now, there’s quite a bit of social chatter going on with regard to Cleveland Research. According to the rumors, the research firm is expected to weigh in on Wal-Mart relatively soon. Unfortunately, it is rumored that the opinion of the research firm is bearish.
What We’ll Be Watching For Ahead
First and foremost, it’s important to remember that the declines we’re seeing on WMT today are likely the result of rumors. At the end of the day, while rumors cause short-term movement in the market, they are very rarely correct. With that said, we’ll be keeping a close eye on the story, especially waiting for Cleveland Research to release their report. We will keep you posted with the news as it becomes available!
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