Rite Aid Investors Got What They Wanted, Unfortunately [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
The drugstore operator's stock is at its lowest level since late 2012. Breaking up with Albertsons may have pleased investors, but now they're paying the price. There's buyer's remorse. There's seller's remorse. Rite Aid ( NYSE:RAD ) investors may be experiencing non-seller's remorse. Shares of the struggling drugstore chain have plummeted 36% since the end of July, hitting five-year lows earlier this month. The company has taken a beating since announcing that it will not be merging with Albertsons . Rite Aid was set to combine its remaining assets with grocery store giant Albertsons in a new company generating $60 billion in annual sales, but there was plenty of vocal dissent. Several institutional and retail investors argued that the deal undervalued what Rite Aid was bringing to the table. A couple of shareholder advisory firms agreed. They figured that Rite Aid could do better than settling for nearly 30% of the combined company. Some thought it could fare bett
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