Why Walgreens Boots Alliance (WBA) Went Up on Tuesday?

We recently published a list of 10 Firms Kick Off Shortened Trading Week With Impressive Gains. In this article, we are going to take a look at where Walgreens Boots Alliance, Inc. (NASDAQ:WBA) stands against firms that kick off shortened trading week with impressive gains.

The stock market kicked off the shortened trading week on a positive note, with all major indices finishing in the green territory as investors continued to monitor more corporate earnings results.

The S&P 500 led the charge among its peers, recording a modest 0.24 percent gain. The Dow Jones and the tech-heavy Nasdaq were similarly up, albeit posting lackluster gains of only 0.02 percent and 0.07 percent, respectively.

In comparison, 10 companies delivered stronger performances thanks to continued investor confidence. One company in particular stood out for jumping more than 100 percent in just two trading days.

To come up with Tuesday’s top performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A pharmacist discussing the health benefits of a prescription medication with a customer.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) grew its share prices by 14.02 percent on Tuesday to end at $11.06 apiece as investor sentiment was boosted by reports that its potential acquisition by private equity firm Sycamore Partners is making progress.

According to a report by CNBC, negotiations between Sycamore and Walgreens Boots Alliance (NASDAQ:WBA) remain 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, assuming talks don’t falter.

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

In October last year, Walgreens Boots Alliance (NASDAQ: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.

Overall, WBA ranks 6th on our list of firms that kick off shortened trading week with impressive gains. While we acknowledge the potential of WBA as an investment, our conviction lies in the belief that 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 more promising than WBA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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