I initiated a position in WAG yesterday. As many of you know I really like the company but just haven’t been able to pull the trigger based on valuation. However, that all changed 10 days ago when WAG missed earnings by $0.07 and the stock was hammered 15%. Despite the earnings miss I don’t think that anything has fundamentally changed with WAG and as far as I can tell the pricing environment is the same as it was before the miss. The recent correction has simply made a great company cheaper and I plan on being a very long term shareholder of the company.
For further fundamental information on WAG please refer to the below posts:
From My Blog
Investing Based on Demographics WAG-CVS
From the Money Gardeners Blog:
Who said Drugstore Stocks Were Boring
(Disclaimer: I’m not your boss or your spouse so do you own research and make your opinions on when to buy or sell. Nothing I say should be bastardized or construed in any way to be advice.)