Costco could follow in the footsteps of the media streaming giant and crackdown on membership sharing, according to the investment bank.
Costco could follow in the footsteps of Netflix and start a crackdown on membership sharing, according to Morgan Stanley. "Costco's ongoing roll-out of membership card scanners at its U.S. clubs could soon deliver a Netflix moment," analyst Simeon Gutman wrote in a note to clients this week. "Our channel checks suggest membership counts at selected Costco locations, following implementation of the scanners, is rising by double digits.
mountain COST, year-to-date Costco shares rose as much as 1.4% early Wednesday to $905.68 following Morgan Stanley's comments. The stock has soared almost 37% in 2024.
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