Below is a note from Hedgeye CEO Keith McCullough on why we're removing Wal-Mart (WMT) from Investing Ideas today:
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"With the US stock market back to where we thought it would go (all-time highs), this is a good spot to book some gains in names that have worked that are not signaling that they’re willing to make higher-highs. I like WMT, but from a lower price and will be happy to revisit it as a longer-term idea if I get my price." |
Wal-Mart shares are up almost +10% since we added the company to Investing Ideas in March. The S&P 500 is up +3.6% since then.
