Down Over 60%, Is Walgreens Boots Alliance a Bad-News Buy?
Shares of Walgreens Boots Alliance (NASDAQ: WBA) were hammered about 20% lower on June 27. Investors were responding to a lowered forward outlook, and it isn't the first time in recent memory that the company's given shareholders disappointing news.
When the market closed on June 27, shares of Walgreens stock were down by 60.5% from a peak they set last summer. At its beaten-down price, the stock offers a huge 8.2% dividend yield.
You wouldn't know by looking at its stock chart, but Walgreens still owns an enormous chain of retail pharmacies. Could it be a good stock to buy on the dip and hold for the long run? Before we can answer that we need to understand the reasons it's been beaten down.
Source Fool.com
