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The question now is – should investors continue holding on any longer? Or, is it time to cut losses and move on from Rite Aid? We also see investors wondering if this low point of just over $5/share presents a good opportunity to buy Rite Aid at a good value. It has been a tough year for investors (the stock is currently down 65%), and it doesn’t appear that there is any light at the end of the tunnel. The early reaction to all this has been a steep decline in Rite Aid stock price. While Donigan remains optimistic about the future, investors are not echoing the same sentiment. This has led to the company being forced to close retail storefronts nationwide. Rite Aid has felt this as they are reporting huge losses in revenue from their testing and vaccination segment. They were one of the leading sources of COVID-19 testing and vaccinations.īut, the pandemic has dwindled and life is starting to return to a state of normalcy.

The drug store retailer saw impressive quarters during the height of the pandemic. Immunizations – or perhaps the lack thereof – are the reason for the company’s poor performance, though. And, despite the anticipation of continued pressure on consumer spending coupled with supply chain hurdles, he expects higher demand for immunizations. Rite Aid was able to drive higher prescription growth and market share, improved operating margins, and achieved reductions in operating expenses. Heyward Donigan, president, and CEO of Rite Aid, claims that despite this horrific performance the company has made great strides on key initiatives.

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