Just a couple of weeks ago we wrote about Albertsons Companies (NYSE:ACI) and their IPO. Their stock was offered back than between $18 and $20 but soon after the IPO day the price per share went down to $14 on Monday.
Today ACI stock is in green and it seems like some better days are ahead for this Idaho based grocer.
According to “Former PM at Goldman Sachs” Will Meade, ACI is about to go up after earnings results.
Nice bullish outside day forming in @Albertsons Grocery $ACI— Will Meade (@realwillmeade) July 14, 2020
They own @Safeway @Albertsons @jewelosco and @vons
Earnings should be incredible for this QTR as majority of its groceries are in covid heavy states where people stock up.
Much cheaper valuation than $KR @kroger pic.twitter.com/atc6sRImmE
This Wall Street analyst expects a great quarter for Albertsons as most of its stores are based in “covid heavy states where people stock up”.
Share price of ACI stock is up more than 3.5% on Tuesday and is one of the winners among big grocers. Kroger Co (NYSE: KR) gained almost 2.5% today.
Albertsons Companies, Inc. will release financial results for the first quarter of fiscal 2020, which ended June 20, 2020, before the market opens on Monday, July 27, 2020.