CVS, Walgreens Has a Covid Dilemma

Pharmacy giants CVS (NYSE: CVS) and Walgreens (Nasdaq: WBA) both announced Tuesday that they are limiting the number of at-home Covid-19 tests that customers can buy due to high demand. Details: CVS will only allow customers to purchase up to six at-home Covid-19 rapid tests at a time. Walgreens is capping it at four at-home tests per customer. A CVS spokesperson told The Washington Post that the company is working around the clock on its inventory of test kits. Numbers: Despite the news, shares of Walgreens increased 2.31% on Tuesday. CVS ticked up 0.47%. Background: The demand for testing has been so high these past few weeks, that President Biden announced Tuesday plans to deliver a half-billion free rapid at-home tests to Americans in January. Final Thoughts: Shares of Walgreens have been up 20% this year. CVS is up 44%. Both stocks have benefited from health-related demands during the pandemic, including Covid-19 vaccines to customers. Hope you enjoyed this commentary. Please subscribe to Early Bird, a free daily newsletter that helps you identify investment trends: https://earlybird.email/

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CVS, Walgreens Has a Covid Dilemma

bullish

Pharmacy giants CVS (NYSE: CVS) and Walgreens (Nasdaq: WBA) both announced Tuesday that they are limiting the number of at-home Covid-19 tests that customers can buy due to high demand.

Details: CVS will only allow customers to purchase up to six at-home Covid-19 rapid tests at a time. Walgreens is capping it at four at-home tests per customer. A CVS spokesperson told The Washington Post that the company is working around the clock on its inventory of test kits.

Numbers: Despite the news, shares of Walgreens increased 2.31% on Tuesday. CVS ticked up 0.47%.

Background: The demand for testing has been so high these past few weeks, that President Biden announced Tuesday plans to deliver a half-billion free rapid at-home tests to Americans in January.

Final Thoughts: Shares of Walgreens have been up 20% this year. CVS is up 44%. Both stocks have benefited from health-related demands during the pandemic, including Covid-19 vaccines to customers.

Hope you enjoyed this commentary. Please subscribe to Early Bird, a free daily newsletter that helps you identify investment trends: https://earlybird.email/

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Confidence
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