Walmart's stock has experienced a notable decline amid a nationwide boycott and broader market volatility.
As of 2:44 p.m. CDT Monday, Walmart's stock (NYSE: WMT) was trading at $83.19, marking a 26.6 percent decrease from its 52-week high of $105.30.
Why It Matters
The boycott against Walmart, sparked by backlash over its diversity, equity and inclusion (DEI) initiatives, has raised questions about its impact on the retailer's bottom line and public image.
The controversy unfolds during a period of heightened economic sensitivity, as geopolitical tensions and new tariff policies have triggered a wave of investor uncertainty and market declines.
What To Know
As of the time mentioned above, the S&P 500 index stood at 5,089.42, reflecting a 0.30 percent increase from the previous close of 5,074.08 on Friday.
In contrast, Walmart's stock has gone up by 0.77 percent Monday, from $83.19 at the prior close to $83.83 this afternoon.
But the stock's behavior over the past month reveals Walmart may be struggling alongside the broader market. Walmart shares have declined more than 8 percent during that period, while the S&P 500 has dropped approximately 12 percent in the same time frame.
Wall Street analysts have flagged Walmart's exposure to political backlash and consumer sentiment as a growing risk factor.
When President Donald Trump took office in January, he rolled back DEI at the federal level. Several companies including Walmart have since dropped or made updates to their diversity programs.
But stressed consumer behavior amid high inflation as well as Trump's new tariffs imposed on grocery imports could also be a reason for the stock's turbulent few weeks, experts say.
The weeklong boycott of Walmart started Monday as a result of efforts by the People's Union USA.
"We want these corporations to start paying their fair share of taxes so the American people can finally be relieved of the burden of federal income tax," People's Union founder John Schwarz previously told Newsweek. "This boycott is about showing them that we are the economy. We fund their success."
What People Are Saying
A spokesperson for Walmart previously told Newsweek: "Serving communities is at the heart of Walmart's purpose to help people save money and live better. As one of the largest corporate taxpayers in the country, not only do we pay our fair share, we are an economic force multiplier strengthening communities nationwide through job creation, supplier growth, and over $1.7 billion in cash and in-kind donations last year..."
"We remain dedicated to earning the business of all Americans and giving our time and resources to causes that uplift and unite communities who rely on us every day."
Michael Ryan, finance expert and founder of MichaelRyanMoney.com, told Newsweek: "Financial analysts generally maintain skepticism about single-company boycotts creating sustained stock impacts. For this boycott to meaningfully impact Walmart's stock, it would need to materially affect quarterly revenue numbers, not just create temporary disruptions."
"Walmart's position as an essential provider in many communities where they are the only major retailer for 60+ miles creates structural protection against boycott effectiveness. Many consumers simply lack practical alternatives."
Kevin Thompson, CEO of 9i Capital Group, told Newsweek: "The nationwide boycott is a call to not spend at the retailer for an entire week. It's an opportunity for people to shop more locally, but that usually comes at a higher cost. Smaller stores tend to be less affordable and often not as convenient. So while the intention is there, the follow-through might be limited."
Alex Beene, financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "It's not to say Walmart's stock couldn't be hurt by boycotts, but the pressure we've seen on its stock recently has more to do with tariff turmoil than social action. Walmart, like many big box retailers, is reliant on many international distributors to provide products for its stores, and if additional tariffs are slapped on those goods, it will make the shopping experience not just more expensive for Walmart to import, but also for the consumer who shops there."
What's Next
The next earnings report from Walmart, expected in mid-May, will offer the first quantitative glimpse into how the boycott may be affecting revenue and customer behavior.
In the meantime, investors and analysts will be watching daily performance data and any public statements from the company for signs of strategic adjustment or damage control.
Ryan said it's unlikely the stock will experience a substantial impact, with a V-shaped recovery possible within days after the boycott ends.
"The most likely scenario is short-term volatility followed by normalization, unless the boycott expands dramatically beyond current projections or reveals unexpected weaknesses in Walmart's business model," Ryan said.
Across the board, stock prices are not a clear signal, Thompson said.
"The market as a whole is feeling the pressure from what's essentially a self-imposed trade war," Thompson said. "Tariff consequences are rippling across industries, and we're inching closer to bear market territory. This isn't just about Walmart—it's everything."
