Walmart (NYSE:WMT) is one of the biggest retailers in the world, generating more than $500 billion in revenues annually. However, the stock has been slumping over the past year, as investors were betting on high-risk stocks to capitalize on the rapid economic recovery. As the markets slump amid the rising COVID-19 cases countrywide, is WMT an ideal investment to hedge the market risk? Read more to find out.Retail giant Walmart Inc. (WMT) is one of the most valuable companies globally and is ranked #1 on the Fortune 500 list. It is one of the largest companies in the world in terms of revenue and has a $378.07 billion market capitalization. The company also launched a membership service in September 2020 to provide unlimited free deliveries and discounts on fuel purchases from partnered gas stations. Walmart+ reached a subscriber base of 32 million on September 14, 2021, within one year of its launch.
However, WMT has been losing momentum for quite some time, as investors have been betting on relatively risky stocks amid the fast-paced macroeconomic recovery and bullish market trends. Shares of WMT declined 5.3% year-to-date and 8.3% over the past month to close yesterday’s trading session at $137.15.
Here’s what could shape WMT’s performance in the near term: