Rite Aid Poised To Close Under $5.00 For The First Time Since October 2014

The issue is now over $1.00 lower than it was when the deal between the pharmacies was first announced. On Oct. 27, 2015, the issue rallied from its previous day close of $6.08 to $8.67, which was just shy of the proposed $9.00 take-out price.

Now the deal is all but dead, there has been massive liquidation in the issue. Its six-day losing streak (including Wednesday's price action), has taken the issue as low as $4.80 and is not far off that level.

That takes the issue back to prices not seen since October 2014, when it bottomed at $4.42.