Walmart (NYSE: WMT) stock is traditionally seen as a safe investment during recessions. The retailing titan, which has navigated through dozens of demand slumps in the past few decades, tends to do well when consumers are focused on staple products and looking to stretch their budgets.
But many investors are still avoiding the stock today, especially after the chain reduced its earnings outlook. Heading into what could be a difficult holiday shopping season, Walmart seems to have inventory challenges that could harm profitability into 2023.
With that big picture in mind, let’s look at whether the retailer is a good buy candidate right now.
For further details see:Stock Market Sell-Off: Is Walmart a Buy?