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I’ve been loving Walmart so far in 2024. Add it to the list of stocks that just power higher through thick and thin… Walmart isn’t known as a fast-paced stock because it’s a “boring” retail juggernaut, but it’s been filled with momentum all year long. In fact, if all you did was buy Walmart when it peaked to new highs, you’d be doing very well for yourself this year. This week, Walmart pulled back a bit and I think it’s poised for another good rip. We have earnings on November 19th, but WMT has been crushing earnings for the last few years on a consistent basis so I am not especially concerned with earnings getting in our way. What’s amazing about Walmart is that it’s been so consistent. Sure, we’ve had a few pullbacks in 2024, but they’ve mostly been mild consolidation periods compared to the aggressive corrections we’ve seen in other top stocks. In fact, there’s been a number of days since August where most of the market was RED and Walmart was still grinding higher. And that’s why I think it’s the best retail company in the world. I know, that’s very disrespectful to our friends at Amazon, but since the beginning of 2022 Walmart has delivered about 5X the returns of Amazon. And I think Walmart is going to continue this trend of dominance. I also think Walmart is one of the few stocks equally positioned to do well regardless of who wins the election. With a rare pullback in Walmart, I am looking to buy again. Nate P.S. If you still haven’t checked out the Overnight Income Project, we’re 5 for 6 and hitting bigger wins than our average! Go here to check it out |
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