Why Rite Aid Corporation Stock Tumbled Today
Shares of Rite Aid Corporation (NYSE: RAD) took a dive today after the company's agreement to sell a chunk of its stores to Walgreens Boots Alliance (NASDAQ: WBA) was finally approved by the Federal Trade Commission but with fewer stores than previously stipulated.
Walgreens will now take over 254 fewer stores, or 1,932 in total, and pay $800 million less, or $4.38 billion. The deal will leave Rite Aid with about 2,600 stores. As of 11:18 a.m. EDT, Rite Aid's stock was down 9.2%, while Walgreens' was off 1.8%.
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Source: Fool.com
Walgreens Boots Alliance Inc. Stock
€16.55
1.430%
Our community is currently low on Walgreens Boots Alliance Inc. with 3 Buy predictions and 5 Sell predictions.
However, we have a potential of 93.38% for Walgreens Boots Alliance Inc. as the target price of 32 € is above the current price of 16.55 €.
