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Costco stock price is up 5% today, what is the main catalyst behind that?

Costco stock price is up 5% today, what is the main catalyst behind that?
Asked by
Micheal Ben categorie-icon time-icon3 months ago
1 Answer Answer Question

Hassan Maishera
Answered time-icon3 months ago

The value of Costco's stock surged this high due to the company revealed its quarterly profit which was above the expectations of Wall Street analysts. The company did record profit in the grocery space despite huge competition from Amazon, Kroger, Wallmart, and others. Investors were clearly excited about the profits recorded considering the fact that Costco had to slash grocery prices in order to compete with the market leaders. 

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