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Why Walmart Stock Plunged Today

·2 min read
Why Walmart Stock Plunged Today
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Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations. Walmart's revenue rose 2.4% year over year to $141.6 billion in its fiscal 2023 first quarter, which ended on April 30. More concerning was the decline in Walmart's profitability.