Looking like the FTC is going to let this one through. Any of y'all get in on this today or earlier? Killing it in after-hours too. I wouldn't doubt if it goes to $5.00-$5.25 by tomorrow.

I came in at $3.80.

Is this acquisition done deal? Why hasn't it popped yet with news like that?

FTAC2011 said:

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Is this acquisition done deal? Why hasn't it popped yet with news like that?

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Not a done deal. The FTC is supposed to rule on it this week and more signs are pointing to an approval. If it is approved, the agreed upon price is in the $6.50 range I believe is what I read.

Seems like it would start hitting that range now if all signs are pointing to it... thoughts?

For example, when Pfizer offered $120/share for AstraZeneca the stock quickly rose close to that threshold, even before the actual sale happened. Turned out AZ refused and stock dropped back to previous price.

It's gotten over $8.50 within the past year. The initial assumption was that the FTC would file suit against it which made it crash back into the high 2s. However there have been some recent positions filled within the FTC that have a history of being more friendly and a bit more of a free market/libertarian mentality. Even if it doesn't go through, Amazon could very well be in the acquisition mood to get into the drug business and RiteAid would be a prime candidate because it's not as big as Walgreens or CVS.

I believe that even at $3.80 its not a bad buy and if the purchase doesn't go through, it won't hurt if I decide to sit on it.

Are you taking a buy/hold strategy?

FTAC2011 said:

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Are you taking a buy/hold strategy?

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Depends on how the FTC suit plays out. If they file against the acquisition, I'll hold onto it and ride it out for a little while. If they don't and the acquisition gets approved, I'll likely unload it rather quickly. But I still have this nagging feeling that Amazon might try to come in with a competitive bid if it gets approved. I think Amazon is watching this very very closely hoping that the FTC blocks it so they can offer a bid below the Walgreens' bid.

RAD and Walgreens announcing financial results before market open tomorrow. FTC having a closed door meeting at 10EST too. Should be an interesting day for this one.

Merger dead, store purchase alive?

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2017-06-29/walgreens-to-buy-2-186-rite-aid-stores-in-5-18-billion-deal

eject, eject, eject

ColinAggie said:

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RAD and Walgreens announcing financial results before market open tomorrow. FTC having a closed door meeting at 10EST too. Should be an interesting day for this one.

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With the big gap down on open that's about to happen, it's showed signs of support the last few recent times it reached the 3.00 area. Might be an opportunity to average down?

Crazy to see how far this has dropped in 2017. I made a trade for about 10% back at the beginning of February.

I feel like there is a giant over reaction right now. I'm averaged in at 3.80 right now. Rite Aid is still about to get $5.4 billion dollars over the next six months. I'm not understanding the huge drop on this news

Colin,

That's what I am thinking too. This should have some sort of rebound, which is why a dollar cost average around here might not be a bad idea.

just bought in at 2.88

https://seekingalpha.com/article/4084820-rite-aid-time-sell

Some guy on Reddit put his entire 110k account on this happening and took a bath today

He's not entirely dead. There is still some hope, but not making 70% hope.

Guitarsoup said:

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Some guy on Reddit put his entire 110k account on this happening and took a bath today

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ColinAggie said:

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He's not entirely dead. There is still some hope, but not making 70% hope.

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In one of the comments he said he sold his stake. The old "buy high, sell low" move.

He should rebuy it! Rite Aid is still going to get 5.4 billion. Their debt is around 7.2. Use somecof it to pay down the debt and get the books back in order. Rite Aid is still going to be targeted by Amazon now I think.

WSB is ****ing glorious and one of the few places on reddit worth visiting. Just don't forget your $ROPE hedge.

rasher said:

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Guitarsoup said:

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Some guy on Reddit put his entire 110k account on this happening and took a bath today

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That's balls, I guess

From yahoo


CAMP HILL, Pa. (AP) _ Rite Aid Corp. (RAD) on Thursday reported a loss of $75.3 million in its fiscal first quarter.

On a per-share basis, the Camp Hill, Pennsylvania-based company said it had a loss of 7 cents. Losses, adjusted for one-time gains and costs, came to 5 cents per share.

The drugstore chain posted revenue of $7.78 billion in the period.

The company's shares closed at $3.93. A year ago, they were trading at $7.63.