Why I Just Bought Rite Aid Stock
Shares of Rite Aid Corp. (NYSE: RAD) have been hammered since its merger with Walgreen Boots Alliance (NASDAQ: WBA) fell apart. The stock plummeted 26% on June 29 when the news broke, and has continued slide since, giving up as much as another 24%. All told, the stock is down 44% in just two weeks.
I've taken advantage of the sell-off to add some Rite Aid shares to my personal account. While it remains a risky play, there's several reasons why I believe the pharmacy chain has significant upside potential that makes it worth the risk.
Image source: Getty Images.
Source: Fool.com
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