Why Rite Aid Stock Is Down Today
Portfolio Pulse from Ryan Gustafson
Rite Aid Corporation (NYSE:RAD) shares are trading lower in sympathy with Walgreens Boots Alliance after the latter lowered its fiscal year 2023 guidance. Walgreens' lowered guidance reflects consumer and category conditions, lower COVID-19 contribution, and a more cautious macroeconomic forward view. This comes two days before Rite Aid is set to report its first-quarter earnings.
June 27, 2023 | 7:21 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Rite Aid's stock price is down due to Walgreens' lowered fiscal year 2023 guidance. This comes ahead of Rite Aid's first-quarter earnings report.
Rite Aid's stock price is being negatively impacted by Walgreens' lowered fiscal year 2023 guidance. Investors may be concerned that Rite Aid could face similar challenges, leading to a drop in its stock price. The upcoming earnings report could further impact the stock price depending on the results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100