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Rite Aid might be the next GameStop

Rite Aid is currently only valued at $150M vs CVS at $95B. Stock was ruined by short sellers. Whispers of potential Amazon acquisition.

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by Anonymousreply 30September 18, 2023 2:45 AM

If I had a dollar for every story about Rite-Aid's eminent demise, I'd be a millionaire.

They've been on the financial ropes since at least 1998 so I wouldn't hold my breath waiting for any going out of business sales.

by Anonymousreply 1August 4, 2023 12:07 PM

To the moon

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by Anonymousreply 2August 8, 2023 9:08 PM

[quote] Rite-Aid's eminent demise

Imminent, R1.

by Anonymousreply 3August 8, 2023 9:11 PM

It sounds bad to say, but they need to go out of business. There is a massive shortage of pharmacists as it is.

They stores can close and the CVS/Walgreens/Walmart will actually be able to staff their pharmacies with reasonable hours. My parent's Walgreens hasn't staffed their pharmacy (the store itself is still open) on the weekends for the past two years.

by Anonymousreply 4August 8, 2023 9:15 PM

R4 doesn’t make sense

by Anonymousreply 5August 8, 2023 9:16 PM

The stock has been a disaster for 20 years. They took on way too much debt and never got out of it.

by Anonymousreply 6August 8, 2023 9:31 PM

R6 🚀🦧🚀🦧🚀🦧🚀

by Anonymousreply 7August 8, 2023 9:34 PM

what other stocks are we buying?

by Anonymousreply 8August 8, 2023 9:51 PM

Rite Aid locations are actually well stocked in our area. It's Walgreens that apparently was so badly slammed by COVID that they can barely stay open.

by Anonymousreply 9August 8, 2023 9:55 PM

I'd rather shop at Rite-Aid first, CVS second, and Walgreens dead last. The Rite-Aids in our area are nice. Not sure about everywhere else. CVS seems to be the most expensive, then Rite Aid, then Walgreens, for sundries. Rite Aid has Thrifty ice cream.... and liquor, so it has the most to offer.

by Anonymousreply 10August 8, 2023 9:58 PM

Rite Aid is so much nicer than CVS or Walgreens. They’re fully stocked and clean.

by Anonymousreply 11August 8, 2023 9:58 PM

[quote]They stores can close and the CVS/Walgreens/Walmart will actually be able to staff their pharmacies with reasonable hours.

CVS doesn't need them.

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by Anonymousreply 12August 8, 2023 10:01 PM

Its 23% short interest - and high leverage - makes it a candidate for a squeeze. That's excellent news for Rite Aid shareholders. A share spike would help the firm refinance and reduce its costly debts. Rite Aid can issue another 18.3 million shares without increasing its authorized share cap. A cash influx could also help fund more extensive renovations, making its physical stores more competitive with profitable dollar stores. Many of Rite Aid's ills are curable with cash.

by Anonymousreply 13August 8, 2023 10:03 PM

what's the latest?

by Anonymousreply 14August 31, 2023 2:46 PM

Rite Aid is generally very good and much better than Walgreens in LA. I read they filed bankruptcy to get out of federal opiod lawsuits. Funky stuff can then occur…

by Anonymousreply 15August 31, 2023 3:23 PM

CVS setled its Opoid issues. Rite Aid hasn't.

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by Anonymousreply 16August 31, 2023 3:24 PM

It's stupid that pharmacies are being sued over the opioid crisis. These pharmacies didn't write the prescriptions nor take the pills without understanding the risks, and putting the onus on pharmacists to monitor doctors writing prescriptions and what patients are doing with the medications they're prescribed is dangerous; we've already seen that Walgreens has determined it too politically risky to sell Mifepristone thereby denying safe early-pregnancy abortions to not just red state residents but every woman across the nation. Further, placing the responsibility for the pharmacy to control distribution for such basic items as nasal decongestant has presented us with the situation where it is harder to by allergy meds than it is a gun. And I really, really do not want a pharmacist telling me he won't fill a prescription for PrEP or HIV meds because its against his personal religious beliefs, which have nothing to do with my care.

by Anonymousreply 17August 31, 2023 4:06 PM

[quote] It's stupid that pharmacies are being sued over the opioid crisis

I've been making those same arguments for years. But it's a cash grab by the states, supposedly to be used for drug treatment and related costs. Most states will just blow it on the usual pork. Much like the tobacco settlement scam.

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by Anonymousreply 18August 31, 2023 4:17 PM

Rite Aid used to be the best place. Always had 50% off sales. BOGO free. Then CVS opened everywhere and Rite Aid became the downtrodden store.

by Anonymousreply 19August 31, 2023 4:57 PM

The Rite Aid in my neighborhood has been very poorly stocked recently. Next to no back-to-school supplies and sparse Halloween candy compared to CVS. I asked the clerk if the store was closing and she looked a little appalled. Four other Rite Aids in town closed in the last year and a half. The pharmacy in this remaining store always looks slammed, though, and works under curtailed hours. Strangely, the CVS pharmacy a few blocks away processes people through very quickly with minimal wait.

by Anonymousreply 20September 2, 2023 8:07 PM

What are you buying next week?

by Anonymousreply 21September 17, 2023 10:18 PM

The closest Rite-Aid to me has looked like it’s out of business for a good ten years.

I was in there yesterday to pick up a prescription that my pharmacy didn’t have, so I was very glad it was there. Also, the pharmacist was quite the cutie.

by Anonymousreply 22September 17, 2023 10:23 PM

I went into town to buy a birthday card last week and decided to go to Rite Aid because CVS is insane in summer and “pumpkin picking season.” There are times I can’t get a parking place in CVs and have to postpone getting medication for a full day.

So, says I, better go to Rite Aid and avoid a crush. The Rite Aid parking lot is behind the store so I pulled in and ….no cars. Usually cars are lined up in the slots right behind the store. I looked at the store windows but they were up high and I couldn’t see inside the store. I wasn’t sure if it was closed down or not. So I left and went to CVS.

by Anonymousreply 23September 17, 2023 10:31 PM

Just don't get rid of the Thrifty Ice Cream !!

by Anonymousreply 24September 17, 2023 10:32 PM

Prior to Covid that’s where I shopped as they always had a wide variety and in-stock items and the store was remodeled and modern. Now, it looks like it’s been looted. Some shelves with nothing on them at all. One check-out guy instead of three, no lines, no people, no merchandise.

by Anonymousreply 25September 17, 2023 10:40 PM

No Rite-Aids in my city. But here CVS is so many leagues above Walgreens in every conceivable way. And there's a CVS across the street from where I live.

by Anonymousreply 26September 17, 2023 10:56 PM

CVS medication copays are a lot higher than Walgreens. I use Good Rx a lot instead of using my insurance (it’s cheaper) and Walgreens is always a lot less.

by Anonymousreply 27September 17, 2023 11:01 PM

[quote] Thrifty Ice Cream

Hmmmm... that sounds like quality ice cream that comes with a 50%-off coupon for Immodium.

by Anonymousreply 28September 17, 2023 11:17 PM

R28 Thrifty Drug was a big chain of drug stores on the West Coast before Rite-Aid swallowed the company.

They were quite famous for their in-store ice cream counters. Rite-Aid very wisely kept this feature, and on many stores (at least here in California) you'll still see a sign outside that promotes Thrifty ice cream. It's locally made, very high quality.

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by Anonymousreply 29September 18, 2023 12:03 AM

I did not know that history of Thrifty. Thanks for sharing, r29.

by Anonymousreply 30September 18, 2023 2:45 AM
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