Why Walgreens Stock Tumbled 64% in 2024

Shares of Walgreens Boots Alliance (NASDAQ: WBA) fell sharply last year as a combination of declining vaccine demand, headwinds on consumer discretionary spending, and misguided acquisitions led to a series of dismal earnings reports from the company.

As a result, Walgreens was forced to cut its dividend, took a multibillion-dollar impairment charge, and lost its place in the Dow Jones Industrial Average (DJINDICES: ^DJI). According to data from S&P Global Market Intelligence, the stock fell 64% over the course of 2024. As you can see from the chart, the stock fell steadily over most of the year as its prospects continued to decline.