Filed under: Other issues, Bad news, Products and services, Management, Rants and raves, Stocks to Sell, Rite Aid Corp (RAD)
Last year, actually 18 months ago now, James Cramer had enough faith in the Rite Aid Corp (NYSE: RAD) to include it in his 2007 picks. At that time the stock was trading $5.49 per share. It closed yesterday at $1.56 and is trading further down today.
When I say RAD is wrong, wrong, wrong, I mean it literally. There is a store located a few blocks from my office that I shop at perhaps once a month. Yesterday I bought a few things and was amazed at how bad their accounting was.
My primary mission was to acquire some toothpaste, but there are always a few tempting sale items. When I was checking out I discovered that the sports drink for sale at “5 for a $5 dollars” was a mistake and the sign in the store display should have been taken down because the offer had expired. Another item I purchased was marked down from $3.99 to $1.99, great deal! . . . but they told me that the sale price was placed on the wrong shelf for that product and what I wanted was not on sale.
Continue reading Rite Aid (RAD) is wrong, wrong, wrong!
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