Time to Buy Costco Wholesale Stock as Investors Panic About the Amazon-Whole Foods Deal
Last week, federal regulators and Whole Foods shareholders both approved Amazon.com's (NASDAQ: AMZN) acquisition of the natural foods giant. With those hurdles out of the way, Amazon quickly announced that it will cut the prices for some key items. In the future, it plans to implement more price cuts and introduce a discount for Prime members.
This news sparked a fresh sell-off in other grocery-related stocks, including Costco Wholesale (NASDAQ: COST). In total, Costco shares have plunged more than 16% since early June. However, investors are probably overestimating the impact of this deal on Costco's business.
Source: Fool.com
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