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

Jim Van Meerten
By Jim Van Meerten of Barchart.com
Contributor Barchart Chart of the Day •

Walgreens (NYSE:WAG) was eligible to do a totally legal tax inversion after acquiring some foreign businesses.

Walgreens Looses 7.91 Billion Dollars after Obama Threats

Walgreens (NYSE: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.

Disclosure:

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STOCKS IN THIS ARTICLE

WAG (now WBA)
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