Shares of Costco Wholesale (NASDAQ: COST) were slipping today in spite of reporting strong third-quarter results last night. Investors seemed to believe that the stock was already fully priced coming into the report after having run up over the last year, meaning that a strong quarter was already baked into the stock price.

As of 2:38 p.m. ET, the stock was down 2.6% after trading down by as much as 3.4% earlier in the session.

Image source: Costco.

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Source Fool.com