Can Rite Aid Stock Bounce Back After Last Week's 18% Drop?

Can Rite Aid Stock Bounce Back After Last Week's 18% Drop?

Things keep getting even harder for investors in one of this year's biggest sinkers. Shares of Rite Aid (NYSE: RAD) tumbled 18% last week after putting out disappointing quarterly results. Shares of the jilted drugstore operator have now plummeted 76% in 2017. You have to go back more than four years to find the last time that Rite Aid stock was trading below the $2 mark. 

Revenue clocked in at $7.7 billion for Rite Aid's fiscal second quarter, 4% lower than where it was at a year earlier. Analysts were holding out for a much smaller dip on the top line. Rite Aid had a reported profit of $0.16 a share for the period, but that was primarily because of the $325 million it received from Walgreens Boots Alliance (NASDAQ: WBA) after a deal for Rite Aid to be acquired fell through earlier this year. Remove that one-time gain, and Rite Aid's checking in with an adjusted deficit of $0.01 a share.

Image source: Rite Aid.

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Source: Fool.com