Costco’s opens new tab shares closed down 7.6% on Friday for its worst day since May 2022 after the membership-only retail chain missed second-quarter revenue expectations and signaled a negative impact from lower gasoline prices.
“The stock just had a very strong run into the earnings print, and so we see this a lot with Costco where … stock will sell off on financial news and then recovers within a few weeks or something,” Telsey Advisory Group analyst Joseph Feldman said.
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