Why Rite Aid Corporation Gained 16% Last Month [The Motley Fool]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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US:NYSE Investor Relations:
riteaid.com/corporate/investor-relations
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Source: The Motley Fool
Shares of the drugstore chain rose in anticipation of its merger vote with Albertson's. Jeremy Bowman ( TMFHobo ) Aug 3, 2018 at 3:33PM What happened Shares of Rite Aid Corporation ( NYSE:RAD ) got a boost in July heading into a merger vote with Albertson's later in August. There was little news out on Rite Aid during the month, though the company made a push for the merger in a letter to shareholders, and prospective owner Albertson's turned in a strong earnings report. As a result, the stock gained 16%, according to data from S&P Global Market Intelligence . As you can see from the chart below, the gains came in the second half of the month as the August 9 shareholder vote date moved closer. RAD data by YCharts. So what On July 10, Rite Aid issued a letter to shareholders arguing for the merger and asking shareholders to vote
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