We recently published a list of 10 Battered Stocks on Friday. In this article, we are going to take a look at where Walgreens Boots Alliance, Inc. (NASDAQ:WBA) stands against other battered stocks on Friday.

The stock market ended the trading week in the green territory, with all major indices gaining more than 1 percent after slipping into the negative territory at intra-day trading following a clash between US President Donald Trump and Ukrainian leader Volodymyr Zelensky at the White House.

Following the televised meeting, the two leaders concluded the encounter without a deal for joint development of mineral resources.

The Dow Jones jumped by 1.39 percent, the S&P 500 surged by 1.59 percent, and the Nasdaq soared by 1.63 percent.

Ten companies bucked a broader market optimism, with three stocks heavily battered by disappointing earnings results, losing more than 20 percent in their valuations.

In this article, we have detailed the reasons behind their weak performance.

To come up with Friday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A pharmacist discussing the health benefits of a prescription medication with a customer.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) declined by 4.9 percent to end Friday’s trading at $10.68 each as investors resorted to profit-taking while waiting on the sidelines ahead of more concrete updates on its potential acquisition by Sycamore Partners.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) has been trading sideways over the past few weeks on speculations of a $10-billion buyout deal of WBA by Sycamore, which the two have put on the table since December last year.

Hopes were further boosted by a social media post from credit information provider Octus on Monday that Morgan Stanley, UBS, and other private lenders are working on a $10 billion package to back Sycamore Partners’ potential buyout.

However, analysts said that Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s drop was due to the company already running too far on the transaction hopes.

Deutsche Bank, in its recent report, recommended selling WBA stocks and cut its price target to $9.

Overall, WBA ranks 7th on our list of battered stocks on Friday. While we acknowledge the potential of WBA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WBA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.