A Bloomberg News story asserting that Wal-Mart is “cutting orders as unsold merchandise piles up in stores” sent shares of the retailing giant tanking briefly, falling as much as 2.9% in intraday trading, before coming all the way back when the company offered a rebuttal.
Wal-Mart called the report “misleading,” saying the emails cited by Bloomberg reporter Renee Dudley were part of a normal discussion between buyers and suppliers.
The chart below shows the move:
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