Walgreens Stock Pops as Private Equity Lurks

WBA has traded up off the mat in 2025, despite its lengthy struggles

Laura McCandless

Deputy Editor

Mar 4, 2025 at 11:47 AM

Walgreens Boots Alliance Inc (NASDAQ:WBA) was last seen up 7.1% at $10.99, amid news the embattled drugstore giant is nearing a $10 billion deal with private equity firm Sycamore Partners that would take it private, possibly as soon as Thursday. Per the Wall Street Journal, the firm would keep the core U.S. retail business and sell off or take public other parts of the company.

Since the start of 2025, WBA is up 17.8%, cutting into its now 46.6% year-over-year deficit. The stock's record high of $97.30 was nearly 10 years ago, and the shares have finished with annual losses for the past three years.

Options bulls are targeting the stock today, with 54,000 calls exchanged so far -- quadruple the call volume typically seen at this point -- in comparison to 8,267 puts. The March 11 call is the most popular, with new positions opening there.

Some short covering could provide tailwinds for the stock's bounce, too. Short interest represents 9.4% of the stock's available float.

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