Costco’s stock may be down 12% this year as investors fret about growth slowing down after months of consumers stocking up during the COVID-19 pandemic, but it’s unlikely the usually strong market performer will stay stuck in neutral for too long.
That inevitability for Costco (COST) reflects several byproducts of the pandemic that play right into the hands of the warehouse giant’s very business model (and by extension, its bottom line), argues Wells Fargo analyst Edward Kelly. One is…
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