Tesco’s [TSCO.LSE] share price began 2022 roughly where it started 2021 – at about the 293p mark. But, with the UK’s leading supermarket chain having increased its market share last year, could its share price soon be on the rise?
Tesco share price recovers from February dip
The Tesco share price spent most of last year recovering from a steep drop in February. Having begun 2021 valued at 293p a share, Tesco saw its share price plummet from about 312p to 224.80p over the course of February. That 28% drop came after shareholders approved the sale of Tesco’s Malaysia and Thailand business for around £7.6bn, with £5bn of the proceeds being paid out to investors via a special dividend, while the rest went into Tesco’s employee pension fund.
Crucially, the fall in the Tesco share price reflected the scaling back of the retailer’s global operation, rather than an underlying issue in its core business. Subsequently, the Tesco share price spent the remainder of 2021 reclaiming lost ground, closing at 293.95p on 4 January 2022, the…
