Target Stock Plunges on Disappointing Earnings Report
May 18 2022 - 12:43PM
TipRanks
Retail titan Target (TGT), one of a few retailers who could
actually take a fight to Walmart (WMT), recently turned in its
earnings report. The result was a bloodbath of traders stampeding
for the exits. The stock lost around 25% in premarket trading
today, and the losses continued throughout the trading session
today. Target's problem was familiar and already echoed by
Walmart's results. It's not surprising that I'm bullish on Target.
It's got most of the same secret sauce that Walmart has, with a
slightly more upscale presentation that could give it an edge,
going forward.
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Target (NYSE:TGT)
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