Weis Markets: 3 Reasons Not To Buy Into This Down Move

May 25, 2023 7:15 AM ETWeis Markets, Inc. (WMK) StockWMK2 Comments
Individual Trader
17.84K Followers

Summary

  • Weis recently reported its fiscal Q1-2023 numbers where net profit fell by almost 18%.
  • Higher costs is putting pressure on the financials and the market does not know when this trend will end.
  • We look at Weis' valuation, technicals, and margins to ascertain Weis' investment case at this juncture.

Bear walking with declining finance chart

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Intro

Weis Markets, Inc. (NYSE:WMK) recently announced its fiscal first-quarter earnings for 2023 but the reported numbers did nothing to stop the slide in the share price. Although revenues rose to $1.145 billion for the quarter, bottom-line GAAP profit ($25.8 million) was

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