Costco stock slips 2.03% and underperforms competitors

11 articles · Updated · MarketWatch · May 6

Shares closed at $995.75 on Wednesday as the S&P 500 rose 1.46% and the Dow gained 1.24% in a broadly positive session.
The decline ended a two-day winning streak, leaving Costco 6.68% below its 52-week high of $1,067.08 reached on June 3.
Costco lagged Amazon, up 0.53%, and Target, up 1.06%, while Walmart fell 0.54%; trading volume of 2.5 million topped its 50-day average of 1.8 million.

Costco's sales are booming, so why did its stock just stumble on a strong market day?

Can Costco's loyal members shield it from looming economic threats and justify its high valuation?