Walmart shares tumble, analysts predict management shake-up
Allegations of bribery, international corruption and a sloppy corporate cover-up at Wal-Mart Stores Inc. hammered the retail giant’s share price on Monday (April 23). Wal-Mart shares lost nearly 5% of their value to close at $59.54, the worst day in more than three years.
At the scandal epicenter, shares of Wal-Mart’s Mexican business segment — Walmex — choked back losses of more than 12.5% with shares closing at $37.82 down $5.43.
Analysts are mixed about the potential fallout which could unfold in the coming days as more is known about the bribery scandal under the watch of Eduardo Castro Wright, who is credited for an amazing run in expanding the company’s Mexican business segment. Click here to read the full story from our partners at TheCityWire.com.