Costco's Gold Bars Sell Like Hot Cakes Amid Economic Uncertainty
Portfolio Pulse from Benzinga Neuro
Costco Wholesale Corporation (NASDAQ:COST) has successfully ventured into the gold market, with its 1-ounce gold PAMP Suisse Lady Fortuna Veriscan bars selling out within hours of availability. The move comes amid economic uncertainties and a surge in gold value. This follows Costco's successful fiscal fourth quarter, where net sales increased 9.4% YoY to $77.43 billion, beating consensus estimates.
September 28, 2023 | 2:34 am
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Costco's successful venture into the gold market and strong Q4 results could positively impact its stock price.
Costco's successful venture into the gold market indicates a strong diversification strategy, which coupled with its strong Q4 results, could boost investor confidence and positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100