Tesco (TSCO) Share Price London Stock Exchange October 26
When compared to share values around the same time last year, Tesco seems like a shadow of its former glory. In many cases it would be favourable to purchase large swaths of a national stock at such low prices, but analysts are reluctant to make such recommendations in the current climate.
On a near 12-year downward trend, it remains to be seen whether Tesco will be bouncing back any time soon. As such, brokers and analysts are advising investors to hold on purchase or sale of stocks until more data is available.
Tesco officially hit its year-low on Friday shortly after opening at 170.50p when shares dropped almost immediately to 164.00 and bounced back to 168.75, followed by horizontal movement until trading’s end for the week.
News emerged Friday that a major international shareholder had sold of its stake in the retailer. This news came after the announcement that Tesco’s credit rating had been downgraded, resulting in a devastating two-fold blow to the company.