“Walmart (WMT) is going to continue to move higher,” well-known investor Joe Terranova said on CNBC yesterday.
A frequent guest on the network, Terranova is the Senior Managing Director of Virtus Investment.
A manager standing in a hypermarket, pointing out items available for wholesale.
Why Terranova Is Bullish on WMT Stock
Walmart’s first quarter results were “very strong,” the investor stated. Although investors have been concerned about the giant retailer’s high spending levels, Terranova thinks that Walmart Inc (WMT) is effectively using the funds to gain market share and enhance its e-commerce business.
WMT has “proven in the past that (it) can capture market share when it wants to utilize its scale,” said Terranova. “I expect it will be fine in e-commerce,” he added.
Terranova Weighs in on Trump’s Anger at Walmart
After President Donald Trump blasted Walmart Inc (WMT) for saying that it would raise its prices in response to his tariffs, Terranova stated that “I think Walmart will be smart enough to raise prices on…discretionary” products and more expensive items.
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This article is originally published at Insider Monkey
