Is Walmart Headed To New Highs On Upbeat Annual Investor Day?

Photographer: Patrick T. Fallon/Bloomberg

Wal-Mart Stores (WMT) popped to the upside on Monday as the company touted new online retail initiatives to compete with Amazon.com (AMZN). Wal-Mart management presented a long-term plan to shift to digital shopping at an upbeat annual investor day on Monday.

Wall Street and investors cheered their e-commerce plans and the stock appears to be on a momentum runup to its all-time intraday high of $90.97, set during the week of Jan. 16, 2015.

The Wal-Mart strategy will cut back on building new supercenters and focus on smaller stores and ways to deliver a 40% growth rate for online sales combined with more efficient use of their retail stores.

Shares of Amazon took this news in stride and continues as a strong momentum stock on its own.

Here’s the weekly chart for Wal-Mart:

Courtesy of MetaStock Xenith

Courtesy of MetaStock Xenith

Wal-Mart closed Wednesday at $85.73, up 24% year-to-date and in bull market territory, 31.3% above its postelection low of $65.28, set on Jan. 27. The stock set its postelection high of $86.29 on Oct. 11.

Must Read: 5 Standout Monthly Dividend Stocks To Buy

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Photographer: Patrick T. Fallon/Bloomberg

Wal-Mart Stores (WMT) popped to the upside on Monday as the company touted new online retail initiatives to compete with Amazon.com (AMZN). Wal-Mart management presented a long-term plan to shift to digital shopping at an upbeat annual investor day on Monday.

Wall Street and investors cheered their e-commerce plans and the stock appears to be on a momentum runup to its all-time intraday high of $90.97, set during the week of Jan. 16, 2015.

The Wal-Mart strategy will cut back on building new supercenters and focus on smaller stores and ways to deliver a 40% growth rate for online sales combined with more efficient use of their retail stores.

Shares of Amazon took this news in stride and continues as a strong momentum stock on its own.

Here’s the weekly chart for Wal-Mart:

Courtesy of MetaStock Xenith

Courtesy of MetaStock Xenith

Wal-Mart closed Wednesday at $85.73, up 24% year-to-date and in bull market territory, 31.3% above its postelection low of $65.28, set on Jan. 27. The stock set its postelection high of $86.29 on Oct. 11.

Must Read: 5 Standout Monthly Dividend Stocks To Buy

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Read Again https://www.forbes.com/sites/investor/2017/10/12/is-walmart-headed-to-new-highs-on-upbeat-annual-investor-day/

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