Investment

Rite Aid’s stock tumbles 55% to join its cratering bonds after bankruptcy filing

1 Mins read

Rite Aid Corp.’s stock tumbled 55% Tuesday, falling to 30 cents, after resuming trade following a halt on Monday. The stock was halted after the company filed for bankruptcy amid mounting piles of debt-related to opioid lawsuits.

The company’s bonds were also sold off heavily, as the following charts from data solutions provider BondCliQ Media Solutions show.

The…

Read the full article here

Related posts
Investment

Is Magnificent 7 Momentum Setting Investors Up for Disappointment?

1 Mins read
The Magnificent Seven stocks have experienced remarkable earnings and free-cash-flow growth in recent years, all while developing the next generation of technological…
Investment

This fund manager stopped worrying about economics. Now he is outperforming the stock market.

4 Mins read
A change in strategy has helped transform the GoodHaven Fund from a long-term underperformer into an outperformer since the end of 2019….
Investment

After 34 years, Japan’s Nikkei 225 completes a roundtrip

2 Mins read
The Nikkei 225 — an oddly constructed index covering the top 225 Japanese companies — is back at levels not reached since…
Get The Latest News

Subscribe to get the top fintech and
finance news and updates.

Leave a Reply

Your email address will not be published. Required fields are marked *