Why Walgreens Boots Alliance Plunged Today
Shares of beleaguered drug store and pharmacy chain Walgreens Boots Alliance (NASDAQ: WBA) fell 8.4% on Tuesday as of 3:22 p.m. ET.
The reason for the drop today appears to be twofold: One, unveiled its own direct-to-consumer telehealth and e-commerce platform. Two, Eli Lilly announced it would be cutting prices for its GLP-1 drug Zepbound by 50% for certain doses, when ordered directly from the drugmaker's LillyDirect e-commerce platform.
While it's hard to know how meaningful the impact on Walgreens will be, investors appeared to sell Walgreens stock on the direct-to-consumer news before asking too many questions.
Source Fool.com
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