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Walgreens Tanks $7.91 Billion Dollars As CEO Caves To Obama Threats

|Includes:Walgreens Boots Alliance, Inc. (WBA)

WEDNESDAY, AUGUST 6, 2014

 

Walgreens Looses 7.91 Billion Dollars after Obama Threats

Walgreens (WAG) was eligible to do a totally legal tax inversion after acquiring some foreign businesses. After threats from President Obama and Senator Dick Durbin of Illinois the CEO of Walgreens, Greg Wasson was backed into a corner and announced the company would not complete the inversion process they were considering. Immediately after the announcement the Company's stock tanked 14% causing a loss to stockholders of over $7.91 billion dollars.

LINK TO FULL STORY

Look at the chart:

Stockholders of this and other stocks should follow this story closely as the Obama White House continues it's crusade against stockholders.

Posted by Jim Van Meerten Jim van meerten at 4:48 PM

Stocks: WBA