“Amazon Pharmacy” Sends Pharmacy Stocks Down
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 17 November 2020
⏱️ 18 minutes
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Summary
The launch of “Amazon Pharmacy” sends shares of CVS Health, Walgreens, Rite Aid, and GoodRX down 10-20%. Jason Moser analyzes the opportunity for Amazon and the various threat levels for different companies in the industry. Plus, we discuss the latest results from Walmart and Home Depot, outlook for the holiday season, and Home Depot’s lack of a loyalty program for everyday consumers.
Transcript
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| 0:00.0 | It's Tuesday, November 17th. |
| 0:04.0 | Welcome to Market Foolery. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:06.4 | Mr. Jason Moser. |
| 0:07.6 | Good to see you, my friend. |
| 0:08.7 | Good to see you, my friend. |
| 0:08.8 | Good to see you. |
| 0:10.8 | We have two of the biggest retailers out with their latest earnings report. |
| 0:14.7 | That is going to have to take a backseat today to the news from Amazon, which just announced |
| 0:20.2 | the launch of Amazon Pharmacy here in the US. You can order prescription drugs, |
| 0:25.2 | have them delivered to your home, Prime members get discounts, and the |
| 0:31.6 | reaction from the pharmacy stocks is pretty eye-popping CVS Health |
| 0:36.6 | Walgreens Rite Aid good Rx they are all getting hit Jason. Yeah they are and I mean I understand why I think this is likely an overreaction to an extent and I just you know I |
| 0:49.5 | harken back to when Amazon announced its acquisition of Whole Foods. |
| 0:54.4 | You remember the grocery store stocks at that point took a pretty steep nose dive on that |
| 1:00.5 | news and again understandable I mean Amazon is is extremely competitive in a big |
| 1:06.8 | threat in a lot of ways but but I mean you fast forward to today and and certainly |
| 1:11.1 | leaders in the grocery space have recovered. |
| 1:13.0 | I mean, they have been the most compelling investments in the world, but I mean, it wasn't fatal. |
| 1:19.0 | That said, this announcement from Amazon doesn't make the farmers jobs any easier. I mean when |
| 1:25.8 | we speak about CVS and Walgreen those are companies that while they have big |
| 1:30.6 | storefronts and they have that grocery dynamic to them I mean they |
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