Target Stock Down 24% in Pre-Market Trading

SIXERS24

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Goldman Sachs says 37% chance by 2024
Deutsche Bank says Major recession by 2024

‘Recession shock’ is coming, Bank of America warns​

 

onlyTheObvious

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Jan 3, 2021
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The American consumer will soon be running on fumes, and taking out more debt to sustain their lifestyle. This will not end well. Thanks Brandon!
Upside down in their house and a giant SUV they can’t afford to fill up.

the government isn’t alone when it comes to fiscal stupidity.

great time to ask for Americans to pay more taxes So we can pay the student debt off of somebody that spent 4 years at Wartburg and a month jacking off in Europe for a degree in worthless.
 

THE_DEVIL

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WMT also had its worst day since the 1980’s yesterday. Down another 5% today. The ex-CEO called a 32% rise in inventory “apocalyptic”. He said 8% is considered in the horrible range.
I am no expert but I am going to guess the robust inventory is some the catching up of over ordering everything when the supply chain had slowed to a crawl. Companies like Walmart and Target were ordering anything and everything to get merchandise into the store. Not saying there is not a shopping slowdown, only that over ordering is part of the equation.
 

HawkRCID

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Nov 7, 2018
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Upside down in their house and a giant SUV they can’t afford to fill up.

the government isn’t alone when it comes to fiscal stupidity.
Yep. I have seen a lot of people make very dumb choices in this housing market. They will pay eventually.
 
Mar 11, 2020
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Unless you're looking at an individual stock/sector with a story, you may want to keep your powder dry until the DOW passes 25,000.
I know nothing, but am trying to learn, for some reason I naturally thought 25k would be the bottom of this also. I have zero knowledge or background for this.
 

hwk23

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Nov 22, 2010
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I am no expert but I am going to guess the robust inventory is some the catching up of over ordering everything when the supply chain had slowed to a crawl. Companies like Walmart and Target were ordering anything and everything to get merchandise into the store. Not saying there is not a shopping slowdown, only that over ordering is part of the equation.
Yes, that possibility was brought up. Still I don't know if I've ever been so concerned going forward, not just the economy. btw, Rents in my area are up 68% YOY.
 

Slappy Pappy

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Nov 24, 2007
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If we all just bought nothing for two weeks we could beat inflation.
It's no great secret that economists say pretty much the only way to kill runaway inflation is to start a recession. And the government will not be in any hurry to end it. Cuts demand for everything, including gas for commuting, and will freeze then drive back down prices really fast. Just got to hope it doesn't snowball, but with investors inevitably trying to cash out of real estate to lock in their gains, I don't see how we can.
 

bhawk24bob

HR Legend
Jul 8, 2001
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It's no great secret that economists say pretty much the only way to kill runaway inflation is to start a recession. And the government will not be in any hurry to end it. Cuts demand for everything, including gas for commuting, and will freeze then drive back down prices really fast. Just got to hope it doesn't snowball, but with investors inevitably trying to cash out of real estate to lock in their gains, I don't see how we can.

The quirks in this imo are that companies still can't fill positions, and the increasing mortgage rates are putting a dent in the economic sense in building new homes. A recession doesn't fix those two issues
 
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Capital1Hawk

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Jan 23, 2007
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Looks like a great time to buy!
I take it you weren't around during the dot-com crash, 77% drop. We aren't even half way to that crash. Know way too many folks borrowing and dollar cost averaging all the way down to the bottom. Took years and years to offset annual $3k cap loss deduction limit and some even borrowed on the way down.
 

Hondo_11

HR All-State
Mar 15, 2022
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I take it you weren't around during the dot-com crash, 77% drop. We aren't even half way to that crash. Know way too many folks borrowing and dollar cost averaging all the way down to the bottom. Took years and years to offset annual $3k cap loss deduction limit and some even borrowed on the way down.
On the other hand, the NASDAQ is now about 32% off its all-time at today's close and the Russell 2000 about 28%. Getting close to just nibbling on some very high quality small cap growth funds...but not there yet IMHO.
 

hwk23

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Nov 22, 2010
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I take it you weren't around during the dot-com crash, 77% drop. We aren't even half way to that crash. Know way too many folks borrowing and dollar cost averaging all the way down to the bottom. Took years and years to offset annual $3k cap loss deduction limit and some even borrowed on the way down.

Yep, if the Nasdaq had the same % drop from the high, it would go to 3k or so. I don't think it will go that low, because I think it was more overvalued then, but it could still go a lot lower.
 
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chodehawk

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Oct 9, 2016
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If it drops that far it’s time to buy.

their business model isn’t broken and target is great to escape the freak show at Walmart.
Target will eventually turn into the same thing as more and more middle class are becoming poorer and poorer.

The big corporations like Target will continue to thrive and when they get mass-looted by blm, they will simply pass the expenses on to the law-abiding shoppers.
 

hwk23

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Nov 22, 2010
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We are in the unfortunate postion of raising rates drastically right into a potential (if not likely) recession. It reminds me a little of the time leading into 2008 and 2009. Not to mention the food and energy shortages in Europe caused by the Ukraine conflict and sanctions. It's a mess.
 

Tenacious E

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Target is the only store in my area that i go to that has struggled to keep shelves full. Has been a problem since the pandemic began 2 years ago.

i used to stop at target 2-3 times a week, Over the last 7-8 months i have been there 8-10 times.
I will echo this in ankeny. It mostly food products at issue.
 

Tenacious E

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We are in the unfortunate postion of raising rates drastically right into a potential (if not likely) recession. It reminds me a little of the time leading into 2008 and 2009. Not to mention the food and energy shortages in Europe caused by the Ukraine conflict and sanctions. It's a mess.
Would this be an inappropriate time to complain how expensive dedicated undercounted ice makers are?
 

hwk23

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Nov 22, 2010
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Would this be an inappropriate time to complain how expensive dedicated ice makers are?

Well, you could if you want, lol. Rent in my area is up 68% for a two bedroom apartment, almost $3k. Groceries seem like twice as much. Steak is like $14 lb. I don't see how this situation can sustain itself. It may get worse.
 

Hondo_11

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Mar 15, 2022
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Well, you could if you want, lol. Rent in my area is up 68% for a two bedroom apartment, almost $3k. Groceries seem like twice as much. Steak is like $14 lb. I don't see how this situation can sustain itself. It may get worse.
It came with the leftists...it will leave when the leftists are flushed.
 

3boysmom

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This is why I don’t really understand the stock market and let people who do invest my money. Target’s sales were up. They didn’t lose money. Their operating income was over a billion dollars. For just the first quarter? Is that bad?
 

Hondo_11

HR All-State
Mar 15, 2022
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This is why I don’t really understand the stock market and let people who do invest my money. Target’s sales were up. They didn’t lose money. Their operating income was over a billion dollars. For just the first quarter? Is that bad?
I don't follow Target, but I understand their earnings were well short of both projections and guidance. That's never good, but in an environment when everyone is looking for a reason to unload.....BOOM!
 

bhawk24bob

HR Legend
Jul 8, 2001
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Well, you could if you want, lol. Rent in my area is up 68% for a two bedroom apartment, almost $3k. Groceries seem like twice as much. Steak is like $14 lb. I don't see how this situation can sustain itself. It may get worse.

This is going to lead to rent control imo. Love it or hate it, as detrimental as it will be to new renters, that'll be the solution
 

onlyTheObvious

HR Heisman
Jan 3, 2021
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This is going to lead to rent control imo. Love it or hate it, as detrimental as it will be to new renters, that'll be the solution
The work from home crowd can move to small rural towns if it bugs them that much. There will be no rent control in 99.9% of the country
 

General Tso

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Nov 20, 2004
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I'll just keep feeding my S&P tracker and not sweat it.

And oh nos, you could see this all coming over a year ago but everyone is acting like we're being attacked by aliens. The dumb thing is spending is higher than if you were to extrapolate the pre pandemic growth trend
 
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bhawk24bob

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The work from home crowd can move to small rural towns if it bugs them that much. There will be no rent control in 99.9% of the country

It'll happen in the major cities, and each city has some uber liberal suburbs where they trip over eachother to out-liberal the major cities

I agree that the wfh crowd should be moving where costs are more reasonable if they are in the market to buy, and it should work out that way over time. It won't be to rural towns imo but maybe a repopulation of the rust belt, some of our formerly larger cities in the east that have had huge drops in population since the 50s, etc.
 

Tenacious E

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[/QUOTE]
Well, you could if you want, lol. Rent in my area is up 68% for a two bedroom apartment, almost $3k. Groceries seem like twice as much. Steak is like $14 lb. I don't see how this situation can sustain itself. It may get worse.
Not sure where you live but in the ankeny Sam’s, NY Strip and ribeye are still around $10/lb. Sirloin and flank about $7 to $9. Can get a huge package of chicken thighs for like $6 total. Or huge many pound pork loin for like 2 a pound. No idea on what rent is but understand it would be substantially cheaper than on the coasts and big cities.
 

kwik44

HR Heisman
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Mar 6, 2003
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Not sure where you live but in the ankeny Sam’s, NY Strip and ribeye are still around $10/lb. Sirloin and flank about $7 to $9. Can get a huge package of chicken thighs for like $6 total. Or huge many pound pork loin for like 2 a pound. No idea on what rent is but understand it would be substantially cheaper than on the coasts and big cities.
[/QUOTE]
What's beef per pound over that way?
 

Tenacious E

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Not sure where you live but in the ankeny Sam’s, NY Strip and ribeye are still around $10/lb. Sirloin and flank about $7 to $9. Can get a huge package of chicken thighs for like $6 total. Or huge many pound pork loin for like 2 a pound. No idea on what rent is but understand it would be substantially cheaper than on the coasts and big cities.
What's beef per pound over that way?
[/QUOTE]
Other than what I posted? I think ground beef is about $3 to $4 per pound but could be $4 to $5. It should be on their website.
 

Tenacious E

HR Legend
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Dec 4, 2001
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Not sure where you live but in the ankeny Sam’s, NY Strip and ribeye are still around $10/lb. Sirloin and flank about $7 to $9. Can get a huge package of chicken thighs for like $6 total. Or huge many pound pork loin for like 2 a pound. No idea on what rent is but understand it would be substantially cheaper than on the coasts and big cities.
What's beef per pound over that way?
[/QUOTE]
3.99 to close to 5 per pound

 

SoDakHawk

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Sep 14, 2006
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This is why I don’t really understand the stock market and let people who do invest my money. Target’s sales were up. They didn’t lose money. Their operating income was over a billion dollars. For just the first quarter? Is that bad?
Stock price is based on not only current earnings and company valuation but also future earnings. When stocks don't hit projections or their future outlook changes it results in a drop in that portion of stock price that is based on the future.
 
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dandh

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This is why I don’t really understand the stock market and let people who do invest my money. Target’s sales were up. They didn’t lose money. Their operating income was over a billion dollars. For just the first quarter? Is that bad?
Their profits were down 50% and their forward guidance indicated lower future profit margins due to inflation and cost issues.
 

INXS83

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Jul 5, 2003
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Some say it is already here.
It will be officially if GDP is negative this current quarter. That comes out in July.

Heard on the radio that fiscal YTD, the US Treasury has taken in a record amount of tax revenue. Individuals and corps have had record earnings. Still, the deficit grows, supply chain issues continue and inflation is blazing. Way to go, Brandon.