While the S&P 500 is reaching new heights, some stocks are struggling. Certain well-known companies have seen a significant drop in value since the beginning of 2024.
Now might be the perfect opportunity to consider investing in one of these underperforming S&P 500 stocks.
Is this major retailer, down 56%, a hidden gem?
Walgreens Boots Alliance (NASDAQ: WBA) is a prominent American company with a vast retail and pharmacy network. Despite its strong presence, the stock has plummeted by 56% since the start of 2024, while the S&P 500 has seen a 17% increase. This decline has slashed Walgreens’ market cap from $22 billion to under $10 billion. Additionally, its price-to-earnings ratio has dropped to 32 times earnings.
What’s causing this downturn? The primary issue lies in the pressure from pharmacy benefit managers, who act as intermediaries between pharmacies and health insurers…
2024-07-13 16:05:00
Originally published on finance.yahoo.com