Rite Aid's Q2 Results Were Great, but Its Full-Year Guidance Wasn't
There have been plenty of ups and downs for Rite Aid (NYSE: RAD) so far in 2020. In less than nine months, the pharmacy chain's share price has experienced swings of 20% or more nearly a dozen times. Some investors were hoping that the stock was poised to bounce back from its latest downswing.
Those hopes might have been dashed, however. Rite Aid announced its fiscal 2021 second-quarter results before the market opened on Thursday, and following that report, its shares fell by as much as 22% during morning trading. As of 11:50 a.m. EDT, they were down by 16.7% Here are the highlights from the company's update for the period, which ended Aug. 29.
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Source Fool.com
