Rite Aid is headed to $5
Now is the time to get in and pick up some fast points on Rite Aid. It will get to $5 by the end of the week, and probably up even more in the weeks to come. I got in at 4.24.
Rite Aid Reportedly Near Multibillion Deal to Buy Eckerd, Brooks Chains. This will add 1,800 stores to their 3,300 existing locations.
Cramer says this stock will cannonball to $5.
I'd like to think you're right. I picked up 1000 shares back in March , and at the time Cramer was saying his target was $5 and he felt Rite Aid was a takeover target itself. He's been bullish on Rite Aid for 6 months
http://www.thestreet.com/_tscs/funds.../10275627.html
and it's just traded in a narrow range. I'm sitting about even, but I'd like to see this one finally do something.
Last November he was telling us that it was the house of pain.
http://www.thestreet.com/_tscs/funds.../10253062.htmlI thought news like this would move a stock more than 7%??
http://onlinetradersforum.com/styles...foro/clear.pngI think it is a good example of a damaged stock/healthy company. I think the stock is still suffering from executive scandals from the past. However, the financials are good, the future looks good. I think it will catch fire eventually, or at least have a steady incline.
It looks like this deal is done. I am kind of excited to see how this stock does in the next couple of days. The newly acquired stores will all be rebranded rite aid. This deal gives rite aid the power to be an aggressive competitor to cvs and walgreen.
I see this as a good investment especially for the longterm.
CVS has roughly 5,500 stores. Walgreen's has roughly 4,300 stores. Rite-Aid will go from 3,200 to 5,000.