HomeBussinessWalgreens Stock Rallies On Report It's Booting U.K Drugstores

Walgreens Stock Rallies On Report It’s Booting U.K Drugstores

Date:

Related stories

spot_imgspot_img

Walgreens Boots (WBA) stock surged Monday on a Bloomberg report that the retail pharmacy chain is exploring selling its U.K. Boots drugstores.




X



The multinational is contacting possible buyers for its Boots business and is working on holding “early-stage” discussions with interested parties, Bloomberg reported Monday. The U.K. Boots pharmacy chain is valued at $8.8 billion, according to the article.

In 2023, Walgreens Boots revenue from its U.S. Walgreens chain made up 80% of its total sales. Walgreens, a former Dow Jones industrials stock, was removed from the index in February with its shares in a long-term decline begun in 2015. Amazon.com (AMZN) replaced Walgreens on the Dow industrials. Walgreens stock is a S&P 500 component.

WBA stock jumped around 7% to 18.37 in above-average volume during Monday’s market action. Walgreens stock is now up 3.7% in May and remains down nearly 30% in 2024.

Please follow Kit Norton on X, formerly known as Twitter, @KitNorton for more coverage.

YOU MAY ALSO LIKE:

Is Tesla Stock A Buy Or A Sell?

Get Full Access To IBD Stock Lists And Ratings

Learning How To Pick Great Stocks? Read Investor’s Corner

Is Rivian A Buy Right Now After It Launched Its New Product Line?

Market Near Highs But Inflation Data Looms; 5 Stocks Near Buy Points

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img