Weekly Wins: Costco Listens to our Stocks and Markets Podcast and You Should, Too
Bob Lang correctly predicted that Costco shares would soar following their quarterly earnings report.
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Happy weekend!
Bob Lang had a big week and deserves to be featured in this week's Weekly Wins column.
First of all, he was the latest member of our team to spend time with Chris Versace on TheStreet's Stocks and Markets Podcast.
As a member of TheStreet Pro, you get to see the Podcast as soon as we publish it every Wednesday. Later on, it's also made available on YouTube and on TheStreet for non-subscribers.
The other significant benefit is that only members get to ask questions for the podcast. Membership has its privileges, and access to our team is at the top of that list!
You can watch it here, and remember to share your questions with Chris Versace.
In this week's episode, Bob discussed Costco COST, which would be announcing earnings two days later, on Thursday. (We record on Tuesdays)
On the same day, in his Chart of the Day column, Bob suggested that we should all go shopping for shares in the big box retailer. You can read that below.
Bob told readers that Costco "has always defied the odds when a bet was made against the consumer" and backed up that statement with a chart and prediction.
And that's exactly what happened.
On Tuesday, Costco shares closed at 1017.79. Patient traders could have even waited until Friday morning, after the earnings release on Thursday night, and paid as low as 996 in premarket trading.
On Friday, Costco shares ended the week at 1040.18, up 2.20% since Bob's rally cry on Tuesday, although they had been up as much as 3.4% in the last hour before market close.
Well done Bob!
