Costco Stock Is Down 20% From Its High. Time to Buy?
Costco Wholesale's (NASDAQ: COST) stock closed at its all-time high of $604.96 last April. Investors were impressed by the warehouse retailer's robust growth during the pandemic, when it became a top shopping destination for bulk purchases as well as its continued growth after the lockdowns ended.
Its sticky membership plans, high renewal rates, and ongoing expansion -- even as other retailers reduced their number of brick-and-mortar stores -- made it even more appealing.
However, Costco's stock has declined about 20% since then. Though its core business remains strong, its stock wasn't immune to the past year's broader market sell-off caused primarily by inflation, rising interest rates, and other macroeconomic headwinds. Does that pullback represent a good entry point for new investors?
Source Fool.com
