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.
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.