Rite Aid shares are trading lower after the company filed voluntary petitions to commence proceedings under Chapter 11.
Portfolio Pulse from Benzinga Newsdesk
Rite Aid has filed voluntary petitions to commence proceedings under Chapter 11, leading to a decrease in its share prices.
October 16, 2023 | 4:14 pm
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Rite Aid's stock price is expected to be negatively impacted in the short term due to the company's filing for Chapter 11.
Rite Aid's decision to file for Chapter 11 indicates financial distress, which is likely to negatively impact investor confidence and lead to a decrease in the company's stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100