MAIN ST. VS WALL ST- DOLLAR GENERAL SHARES COLLAPSE 29% WHILE STOCKS ROCK N’ ROLL

hi everybody welcome back to Ox talks appreciate you watching the show today please support the channel and subscribe if you haven't already subscribed let's continue to keep getting the word out uh to people uh about economic conditions there are two things happening uh today that I think are very interesting uh the one of the top headlines I'm going to cover with you is Dollar General uh their Shares are crashing as of recording this video uh their Shares are down about 29% article came out on the Zero Hedge this morning saying that in pre-market they were down as much as 26% so the selloff in Dollar General is accelerating I'll get into that story in a minute but what I wanted to bring to your attention is while Dollar General is sliding because the top management there is said the consumers can no longer afford to buy their products and they're guiding lower we'll get into to the to the actual data in a second while that's happening on the one hand the other hand you have the broader stock market just uh rocking and rolling today uh I just checked the Dow's up almost 300 points nasdaq's up over a percent almost 200 points S&P 500's uh up so you have a you know a continued diversion between Main Street and Wall Street all right most people can't afford now to shop at the Dollar General uh to buy dollar items which we all know really aren't a dollar anymore uh but then you have people uh a evidently a fair swath of people in this country and around the world uh that have uh money to burn to play in the stock market so um continue to watch this right because we have this Divergence we know the middle class is basically non-existent now it's either lower or it's upper and so I wanted just to point that out I'm sure all of you are seeing the same thing but you would think that something like this terrible news of Dollar General would have some kind of a rever reverberation excuse me uh through the stock market but uh evidently bad news is good news the markets like that because bad news again uh will feed all of the uh all of the uh money junkies to believe that the FED is going to come in here and start cutting rates in Earnest so let me jump into the Dollar General story real quickly Dollar General shares plummeted as much as 26% as the US cash trading session got underway marking the steepest intraday decline ever that was at 26% now we're at 29% here's the chart that I printed up from Zero Hedge today here's where it is right now okay it's the steepest decline ever even you had to go back to 200 and looks like 18 to the last time that it was even close in terms of a percentage decline so uh the shares of doll General are collapsing crash to oh yeah early 2018 levels as previously mentioned uh doll General's management noted that core customers feel financially constrained by examining store locations we can identify the states where these customers are most pressured so how many Dollar General stores are there in the United States uh there are 18, 9912 locations in 48 states and 8,000 cities are these Dollar General stores and looking at this map here on the article looks like they're primarily uh on the east coast of the United States uh for the political strategist out there that this might give some understanding perhaps in swing states where customers are being financially crushed uh the most by of course talks about bionomics um so yeah eastern half the United States guys comment below you have Dollar Generals in your area I don't believe I've seen any out here maybe a couple in Southern California uh shares of Dollar General crashed uh to hit levels not season in 2018 disappointing second quarter earnings report and here's the deal they slashed its full year forecast the retailer warned that its core customers feel financially constrained all right um EPS came in earnings per share $1.70 versus $213 um uh year-over-year estimate was $1.79 and missed the estimate by a long shot uh the lower is full year outlook for sales and profit okay so that is a major Telltale sign they do not believe it's going to get any better and they're they they originally believe same store sales growth was going to be um 2% okay uh and it actually now they're saying it's going to be 1% so they've cut their let's say their uh projections for growth uh in half all right uh and they see comparable sales uh also uh plunging so we have a situation here where the people in the country uh a large swath of people cannot afford to shop at Dollar General says while we believe the softer sales Trends are partially attributable to a core customer who feels financially constrained we know the importance of controlling what we can control with the evolving retail and consumer land cape in mind we're taking decisive action to further enhance our value and convenience offerings as well as the inore experience for our Associates uh and uh customers um and they just keep going back to saying how financially constrained uh consumers are so let me ask you this if if if people are no longer able to shop at the dollar uh General uh where are they shopping what what's the next level down uh I'm not trashing a Dollar General I don't think I've ever even been into a Dollar General but um it's probably like the other dollar stores we see so you know it seems to me that a Walmart uh is is a step up from there so a Target even a step up from there so where are the people that can't afford to shop at Dollar General shopping what are they doing uh again comment below I'd love to hear from you guys on that that's just that's the I say of the main headlines we're seeing come out today across the financial media uh Dollar General it's also a story about uh pending home sales uh are are crashing this numbers came out horrible I'll cover that probably on a later video today and hope to get up uh a stay out of court uh episode maybe later on today or this evening after I finish up here at the office have several meetings appointments today need to file some papers with the court so that being said appreciate all of you thanks for subscribing to the channel we'll talk to you soon bye