chacha, July was a reaction to ESRX settlement announcement. October was a reaction to the lack of improved revenues post ESRX settlement (actual settlement date mid-Sep). WAG failing to substantially recover lost customers instantly, was a disappointment to many. WAG used to have a higher PE than CVS. That was when they were growing faster than CVS and investors thought WAG would continue to outgrow CVS. I think WAG is positioned to grow faster than CVS over the next decade. If they do, they will be rewarded with a higher PE.