Arcutis Biotherapeutics' product Zoryve being covered as a preferred tier product on CVS Caremark's formularies means it will be more accessible to patients, potentially leading to increased sales and revenue for the company. This is likely to have a positive impact on the company's stock price in the short term.

CVS Caremark adding Zoryve to its formularies as a preferred product indicates a potential increase in its product offerings. However, as CVS is a large company with diverse revenue streams, this single addition is unlikely to have a significant impact on its stock price in the short term.