Dallas, Texas 08/21/2013 (Financialstrend) – Shares of Rite Aid Corporation (NYSE:RAD) had continued to present significant gain in prices in the recent days of trading and are further moving on to touch new peaks with each day. It is worth noting that the stock had been moving to higher level of prices in the past 8 months of trading since January 2013. Since the break of this calendar year the stock had gained by 150% in the prices to present higher level of returns to the investors. Despite the minimal corrections that had occurred in between this bullish trend in prices, the stock had continued to surge higher in the past four months of trading since April 2013.
It could be observed that the shares of Rite Aid Corporation (NYSE:RAD) had presented effective cash returns to the investors in the recent months and the heavy trading volume reported by the stock in the past few days of trading further ascertains this surging trend in prices. It is expected that the stock would move on to continue this upward movement in prices in the near future to further present higher level of gains to the traders.
Rite Aid Corporation (NYSE:RAD) had on Tuesday reported a closing price of $3.48 per share, which was measured to have presented a gain of 2.35% over the previous close. The stock, on Tuesday, had intraday price movements in the range of $3.40 to $3.50 per share for the day, while presently the stock’s 52 week lowest price level is at $0.95 and 52 week highest level is at $3.62 per share. The company presently has around 909.62 million shares being traded in the markets with the market cap on Tuesday at $3.17 billion and institutional owners making a contribution of around 61%.