Rite Aid Stock Sinks After Chapter 11 Bankruptcy Filing

RAD is down more than 80% in 2023

Digital Content Manager
Oct 16, 2023 at 10:04 AM
facebook X logo linkedin

Rite Aid Corp (NYSE:RAD) stock is down 5.6% to trade at $0.61 at last check, after the pharmacy concern filed for Chapter 11 bankruptcy protection this weekend, amid slowing sales, increasing debt, and opioid-related lawsuits. The company also named a new CEO and secured a debt restructuring deal.

The equity has spent most of the last 12 months deep into penny stock territory, after slipping below $5 back in December. The 50-day moving average has been acting as pressure since mid-August, contributing to Rite Aid stock's 80.6% year-to-date deficit.

Options traders are overwhelmingly bearish, per RAD's 10-day put/call volume ratio of 2.85 back at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that sits in the 92nd percentile of annual readings. Echoing this, the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.01 stands in the 99th percentile of annual readings.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI