Investment

Rite Aid’s stock tumbles 55% to join its cratering bonds after bankruptcy filing

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Rite Aid Corp.’s stock tumbled 55% Tuesday, falling to 30 cents, after resuming trade following a halt on Monday. The stock was halted after the company filed for bankruptcy amid mounting piles of debt-related to opioid lawsuits.

The company’s bonds were also sold off heavily, as the following charts from data solutions provider BondCliQ Media Solutions show.

The…

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