Today, Shah joined Varney & Co. to officially compare today’s abominable retail sector to the “Ice Age.”
With Macy’s (NYSE: M) experiencing a 6% dip in sales and even a recent 9% plunge in its stock price – Shah claims this “new mode” will not only make stores like Macy’s obsolete but even whole malls will soon become extinct. In fact, he believes this soon-to-be $8.9 trillion trend is going to start taking over “everything” – as in making once-thriving sectors like retail completely defunct.
Another trending topic he covered was Disney’s (NYSE: DIS) recent stock price drop too, but he’s not too concerned and neither should its shareholders. He believes this decrease is a bit of a market “overreaction” and noted one major “stock booster” initiative for this household name.
Finally, Shah’s a major proponent for this major tech company whose stock is “rich and toppy” at $703/share. The thing is, he thinks it still has a tremendous future ahead of it… bringing its stock price right along with it.
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