CVS - Rite Aid: Promises To Shareholders Not Kept
Shares of Rite Aid (RAD) recently plumbed multi-year lows, dropping to $0.60/share in late December and $0.79/share as of this writing (levels not seen since the 2008/2009 financial crisis), down from a high over $8.50/share as recently as January 2017 and the $4.50 to $8.50/share range in which the stock consistently traded during the three-year period from 2014 through 2016. We provided our views on why Rite Aid's management and board of directors have comprehensively failed shareholders several months ago in our article on Seeking Alpha entitled "Rite Aid - Vote 'Em Out