CVS
stock was rising on Monday after rival drugstore operator
Rite Aid
filed for bankruptcy—but that’s likely not the only factor buoying the shares.
Shares in
CVS Health
(ticker: CVS) advanced 2.4% on Monday. The move higher for CVS stock came amid news that Rite Aid (RAD) filed for Chapter 11 bankruptcy protection late Sunday as it faces lawsuits related to the opioid epidemic, with the group poised to close more stores as it faces a restructuring.
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