Wal-Mart Shares Plunge 5.3% Intraday Wednesday, Marking Sixth Consecutive Session of Losses

Deep News07-02 03:01

The stock of America's largest retailer, Wal-Mart, tumbled as much as 5.3% in early trading on Wednesday, extending its losing streak to a sixth consecutive session.

Wal-Mart had announced on June 23rd its acquisition of Vibe.co, a self-service connected TV advertising platform designed to streamline the ad-buying process for small-to-medium businesses and mid-market brands. The financial terms of the deal were not disclosed. On that day, the stock rose nearly 2%.

However, the share price has been in a persistent decline since that announcement.

The retail behemoth, headquartered in Bentonville, Arkansas, is now down more than 20% from its 52-week high reached in mid-May. Despite this recent downturn, Wal-Mart had seen a remarkable 136% surge over the three-year period through 2025 and had rallied 184% from the end of 2022 until it hit its all-time high of $134.20 in May.

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