Walmart Wins Lawsuit Over Marijuana Use in New Jersey

On May 26, 2023, Walmart emerged victorious in a lawsuit filed by Erick Zanetich under the New Jersey Cannabis Regulatory, Enforcement Assistance and Marketplace Modernization Act (CREAMMA). The case stemmed from Zanetich’s application for a job at a Sam’s Club eCommerce Fulfillment Center, where he was offered a full-time position as an Asset Protection Associate. However, he tested positive for marijuana, leading to the rescinding of the job offer.

Zanetich’s lawsuit alleged that Walmart and Sam’s had breached the CREAMMA Act, which prohibits employers from taking adverse action against workers “solely due to the presence of cannabinoid metabolites in their body.” However, Walmart argued that the CREAMMA Act could only be enforced by a state agency and successfully convinced the judge to dismiss the case.

The US District Court for the District of New Jersey ruling stated that a New Jersey law legalizing recreational marijuana use had given a state commission exclusive enforcement powers, but did not authorize private lawsuits. As a result, Walmart emerged victorious in the lawsuit filed by Zanetich.

Walmart Stock Update: Market Cap at $404.4B Despite Declining Earnings Growth

On May 26, 2023, Walmart’s stock opened at $145.70 and fluctuated within a range of $145.48 to $146.81. The trading volume for the day was 3,085,896, which is lower than the average volume of the past three months, which was 6,344,389. Walmart’s market cap stands at $404.4B, making it one of the largest retailers in the world. The company has faced challenges with declining earnings growth, but its revenue growth increased by 6.73% last year. On May 26, 2023, Walmart’s stock was impacted by the performance of other retailers. Looking ahead, Walmart is set to report its next earnings on August 17, 2023. Walmart operates in the retail trade sector, specifically in the specialty stores industry. Despite some challenges in recent years, Walmart remains a major player in the retail industry, and analysts predict that the company will continue to grow in the years to come.

Investors and Analysts Monitor Walmart Incs Stock Performance with a Median Target of $169.00

On May 26, 2023, Walmart Inc’s stock performance was closely monitored by investors and analysts alike. According to data from CNN Money, the 35 analysts offering 12-month price forecasts had a median target of $169.00, with a high estimate of $180.00 and a low estimate of $145.00. This median estimate represented a +15.28% increase from the last price of $146.60. The current consensus among 40 polled investment analysts was to buy stock in Walmart Inc. This rating had held steady since April, when it was unchanged from a buy rating. Walmart Inc’s current quarter earnings per share were $1.68, with sales of $159.2B. The reporting date for these earnings was set for August 17, 2023.


Read more here: Source link

Leave a Reply

Your email address will not be published. Required fields are marked *