Rite Aid Corporation
(NYSE:
RAD) shares are trading lower by $0.20 at $4.81 in Wednesday's session. The issue has fallen 44 percent from its Jan. 19 close of $8.60, since its acquisition by
Walgreens Boots Alliance Inc (NASDAQ:
WBA) was confronted with major anti-trust concerns.
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.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
