Crypto Whales Are Loading Up — Are You?
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Shares of Wal-Mart Stores Inc (NYSE:WMT), Dollar General Corp. (NYSE:DG) and Dollar Tree, Inc. (NASDAQ:DLTR) plummeted as much as 2 percent Friday morning, and traders attributed the activity to continued concern on proposed border taxes.
President Donald Trump’s emphasis on domestic job growth and proposal of a 20-percent tariff on Mexican goods could shake retailers reliant on low-cost imports.
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Investors, it seems, are growing increasingly aware of how changes to the U.S.-Mexico relationship would impact their portfolios.
Throughout the last month, the blue-chip Wal-Mart stock sunk 8 percent as traders considered the policy implications. They plunged Friday on high volume in a matter of seconds.
So did the values of multiple other companies in the retail sector.
Target Corporation (NYSE:TGT) and Costco Wholesale Corporation (NASDAQ:COST) fell in amounts equivalent to their peers, while Sears Holding Corp (NASDAQ:SHLD) plunged a full 8.2 percent.
SPDR S&P Retail (ETF) (NYSE:XRT) last traded at $42.69.
Image Credit: By Gage Skidmore from Peoria, AZ, United States of America - Donald Trump, CC BY-SA 2.0, via Wikimedia CommonsCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.