Shares of RAD are trading 13% higher today. Here's what's moving the stock:

Shares of Rite Aid Corp (RAD) are trading 13% higher at a price of $9.33 at the time of this writing.

Dealreporter speculation that the company could become an activist target
On Dealreporter's activist watchlist per their "Morning Flash"
RAD's board nominees were overwhelmingly reelected at its annual meeting so the drugstore chain seems to have strong investor support
Rite Aid confirmed in late April that it previously rejected a non-binding proposal from Spear Point Capital Management to acquire the drugstore chain for $14.60/share, or about $815 million
Deutsche Bank doubled Rite Aid's price target last month based on their belief that the PBM business is undervalued

Rite Aid Corp has been trading between a 52-week high of $19.22 and a 52-week low of $4.68. The stock has a market cap of $519 Million.

Rite Aid Corporation is on the front lines of delivering healthcare services and retail products to more than 1.6 million Americans daily. Our pharmacists are uniquely positioned to engage with customers and improve their health outcomes. The company provides an array of whole being health products and services for the entire family through over 2,400 retail pharmacy locations across 17 states.

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Shares of RAD are trading 13% higher today. Here's what's moving the stock:

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