Why Rite Aid Corporation Stock Tumbled Today
Shares of Rite Aid Corporation (NYSE: RAD) took a dive today after the company's agreement to sell a chunk of its stores to Walgreens Boots Alliance (NASDAQ: WBA) was finally approved by the Federal Trade Commission but with fewer stores than previously stipulated.
Walgreens will now take over 254 fewer stores, or 1,932 in total, and pay $800 million less, or $4.38 billion. The deal will leave Rite Aid with about 2,600 stores. As of 11:18 a.m. EDT, Rite Aid's stock was down 9.2%, while Walgreens' was off 1.8%.
Image source: Getty Images.
Source: Fool.com
Walgreens Boots Alliance Inc. Aktie
10,88 €
1,98 %
Leichtes Sell-Interesse bei Walgreens Boots Alliance Inc., mit mehr Sell- als Buy-Einschätzungen.
Trotz eines Kursziels von 11 €, das über 10.88 € liegt, ergibt sich für Walgreens Boots Alliance Inc. ein Potenzial von 1.08%.
