Walmart (WMT) Stock Surges Amid Its Statement In Court In India?

July continues to be a productive month for Walmart. Comparing the price figures as of July 16, 2021, when the price is set at $141.56, and the price as of June 16, 2021, a picture of a benign gain of 3.21% emerges. However, the positive trend has not been sustained throughout this year. The stock price varies widely from $129.12 to $151.60, representing a difference of 17.4%.
Flipkart, a subsidiary of Walmart, said in a court petition seen by Reuters on July 18, 2021, that it should not be considered the same as rival Amazon in an Indian antitrust investigation because the material against the two companies was “significantly different.”

Walmart company contended in its statements to a court in southern India’s Karnataka state that CCI and the court “misinterpret the evidence” here between cases of Amazon and Flipkart and failed to see that they were “strong rivals.” Such an announcement may help the company to become stronger on the market, thus raise its stock price.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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