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Rite Aid Shareholders Approve Reverse Stock Split Plan

Tony Owusu

struggling stock could soon get a boost after shareholders approved a reverse split of the security, which will cut down on the number of shares traded and in turn boost the stock price. Rite Aid shares are currently trading well below $1 per share, putting it in danger of being delisted from the New York Stock Exchange. Rite Aid shares were falling 2.4% to 68 cents on Thursday.