Oufffffff
What a bad day for RAD that got approval for the sale of 1900 of their retail outlets.
Looks like shorters had a great party but it may not last that long.
RAD will receive over time 4.375 B$ for roughly half of their stores. If they do what they say they will, it means that the long term debt will also reduce by the same amount creating a lot more interesting business model with a lot more manageable long term debt.
Expectations are for a share price between 4$ and 5$ and today was the day where shorters took control of the nerves of actual shareholders.
If you look at real traded shares today, it is about 10% of total shares meaning that it has nothing to do with kind of panic selling.
Many entered the world of Rite Aid only to make a couple of bucks rapidly and did so by indicating stop loss orders that were totally wiped out during the day creating a domino's effect.
Now that the bad is done, is the worst over ? Not quiet sure but i do not expect anything of that magnitude for the coming days.
I expect a small recovery until the quarterly results are released on the 28th.
Since then it could well be kind of difficult to predict share price direction.
have fun
What a bad day for RAD that got approval for the sale of 1900 of their retail outlets.
Looks like shorters had a great party but it may not last that long.
RAD will receive over time 4.375 B$ for roughly half of their stores. If they do what they say they will, it means that the long term debt will also reduce by the same amount creating a lot more interesting business model with a lot more manageable long term debt.
Expectations are for a share price between 4$ and 5$ and today was the day where shorters took control of the nerves of actual shareholders.
If you look at real traded shares today, it is about 10% of total shares meaning that it has nothing to do with kind of panic selling.
Many entered the world of Rite Aid only to make a couple of bucks rapidly and did so by indicating stop loss orders that were totally wiped out during the day creating a domino's effect.
Now that the bad is done, is the worst over ? Not quiet sure but i do not expect anything of that magnitude for the coming days.
I expect a small recovery until the quarterly results are released on the 28th.
Since then it could well be kind of difficult to predict share price direction.
have fun
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