Walmart Stock Drops 24% as Ad Revenue Surges

Walmart's (WMT) stock has taken a significant hit in recent months, plummeting from its 52-week peak of $135.15 in May to an opening price of $102.63 on Friday.

This decline represents a drop of nearly 24% and erases over $80 billion in shareholder value.

The company's second-quarter comparable U.S. sales came in at 2.6%, falling short of the 3.8% consensus forecast, which triggered a 9.2% single-day decline.

However, excluding the negative impact of prescription drug pricing regulation changes on the health and wellness segment, Walmart's comparable sales measured closer to 3.4%.