Why Walgreens Boots Alliance Fell Another 22% in August

Shares of Walgreens Boots Alliance (NASDAQ: WBA) plunged 22.1% in August, according to data from S&P Global Market Intelligence.The beleaguered drug store chain didn't even report earnings last month and was already out of favor heading into August. But Walgreens saw incremental headwinds, especially the news that more drug companies would be introducing direct-to-consumer offerings.Walgreens has been under fire all year, and the stock was down slightly through August, even as the broader markets recovered from recession fears. Notable early-month events included a $1.1 billion share sale, or 2% stake, in pharmaceutical distributor Cencora (NYSE: COR). While Walgreens still owns about 10% of Cencora shares, the August sales included all of Walgreens' shares that were "unencumbered." Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool