10 Stocks Grow Firmer Despite Mixed Market Sentiment

1. Walgreens Boots Alliance (NASDAQ:WBA)

Walgreens jumped by 6.5 percent on Monday to end at $10.82 apiece as investors snapped up shares on brimming optimism about the company’s potential acquisition.

On Monday, credit information provider Octus said in its social media handle on X that Morgan Stanley, UBS, and other private lenders are working on a $10 billion package to back Sycamore Partners’ potential buyout.

Recent reports earlier suggested that Sycamore and WBA’s negotiations remained alive after being considered mostly dead a few weeks ago.

Reports about the potential acquisition broke out in December last year, with the deal expected to be successfully closed this year.

According to the report, Sycamore “would likely sell off pieces of the business or work with partners.”

In October last year, WBA announced that it was closing around 1,200 stores over the next three years, including 500 for this year alone, as it scrambles to turn around its ailing business.

While we acknowledge the potential of WBA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as WBA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.