Here’s why this major retailer sank yesterday

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The stock climbed after earnings in August but has tapered off since then.

But everything was pretty much at support until it shockingly gapped down yesterday.

Or, maybe it's not so shocking.

According to this article, the selloff is the result of a "double downgrade" courtesy of an analyst at Bank of America.

She dropped her expectations primarily because of supply chain issues.

We haven't talked about this a whole lot, but it's really important: stores everywhere are having trouble keeping their shelves stocked.

That's going to be even tougher as the Christmas season approaches.

I'm already hearing that Costco is getting ready to limit the number of food products you can buy, in addition to their existing limitations on paper products.

This has the potential to be a mess!

But, as always, we'll look for opportunities. And it's possible that Kohl's becomes one now that it's gapped down.

We love trading off gaps, so let's pay close attention and see if anything comes up.

Happy trading, and Happy October!,

Markay

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Here’s why this major retailer sank yesterday

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