Walmart tops Apple as third largest e-commerce retailer
Walmart, whose shares were rising in Friday’s premarket action, is flexing its muscles in the pitched battle for online dominance.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 59.27 | -0.38 | -0.64% |
The retail giant has unseated Apple becoming the third-largest e-commerce retailer in the U.S. with Amazon and eBay still in first and second place for 2018, according to eMarketer.
But can Walmart overtake e-commerce giant Amazon?
“Walmart can take over Amazon, Liz, and certainly will take over eBay,” Strategic Resource Group Managing Director Burt Flicklinger said during an interview on FOX Business’ “Countdown to the Closing Bell” on Thursday.
Walmart reported better-than-expected profits, raising full-year guidance in its quarterly earnings report.
“Walmart is a diamond in the rough,” Flicklinger said. “Surprisingly, they don’t get enough credit.”
Warren Buffett's Berkshire Hathaway Inc. sold its remaining shares of Walmart and ended a relationship that spanned more than two decades, according to a filing Wednesday.
Walmart stock closed at $99.54 a share, down to 2.01 percent at the end Thursday’s trading day.