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Stock Alert: GoodRx Holdings Tanks 15% As Amazon Enters Drug Biz

November 17, 2020 — 10:26 am EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - Shares of GoodRx Holdings, Inc. (GDRX) tanked 15% on Tuesday morning after retail giant Amazon.com (AMZN) announced its expansion into the healthcare business with the launch of Amazon Pharmacy, a new online store offering drug discounts of up to 80% on generics and 40% on brand medications.

GDRX is currently trading at $39.92, down $6.80 or 14.55%, on the Nasdaq.

The expansion by Amazon into the drug store business immediately impacted stocks of CVS Health, Walgreens, Rite Aid as well as GoodRx.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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