Why Rite Aid Stock Surged Today

Shares of Rite Aid (NYSE: RAD) were moving higher after the nation's No. 3 drugstore chain turned in a better-than-expected earnings report, beating estimates on the top and bottom lines. The stock was up 24.4% as of 10:28 a.m. EDT.

Rite Aid's first quarter, which ended May 30, was deeply impacted by the COVID-19 pandemic, but for the most part, results improved in spite of challenges.

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Source Fool.com