• Walmart has re-emerged as a major force in the stock market, reminiscent of its solid 600% increase in the late 90s.
• With the stock nearly surpassing its September 3 all-time high of $77 and up 46% year to date, Walmart is eyeing the $100 mark.

Walmart Inc WMT has recently become a significant player in the stock market, reminiscent of its 600% surge in the late 90s. After a big rally, their shares went through a long consolidation phase, with prices ranging between $13 and $23 from 1999 to 2012.

Since breaking out of this range, Walmart’s stock has risen impressively by 230%. However, this journey hasn’t been without challenges.

The upward trend has experienced volatility, with substantial declines and long periods of stagnation, testing investors’ patience.

This gradual upward movement illustrates the cyclical nature of stock market investments, where significant gains are often preceded by long periods of inactivity or loss.

The dynamics started shifting significantly early this year. In February, a key moment occurred when Walmart’s stock price surpassed the 2023 high, reaching $56.

This breakout indicated a change in market sentiment, leading to increased momentum with fewer and smaller corrections.

The company’s recent earnings releases have boosted the bullish momentum. In May, an earnings announcement pushed the stock up by 7% in a single day.

Similarly, the August earnings release led to a 6% increase in stock value. The stock has since held onto a 6% gain from its price following the August earnings.

Walmart’s stock is close to breaking its September 3 all-time high of $77. So far this year, the stock has gained 46%.

Their next big goal is reaching $100, a key psychological barrier. With current momentum and market conditions, Walmart has the potential to keep rising and aim for new highs beyond $100.

After the closing bell on Monday, September 9, the stock closed at $77.34, trading down by 0.91%.

This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.