Rite Aid Plunges as Full-Year Outlook Dims

KiOR Inc NASDAQ: KIOR, NII Holdings Inc NASDAQ: NIHD and Rock Creek Pharmaceuticals Inc NASDAQ: RCPI are this Thursday's top-gaining billionaire investment picks. On the losing end are Repros Therapeutics Inc NASDAQ: RPRX, Rite Aid Corporation NYSE: RAD and Violin Memory Inc NYSE: VMEM.

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Rite Aid

KiOR, NII Holdings Climb, But Remain Far Away from Highs

KiOR Inc ( KIOR) reached midday up +26.84%. The renewable fuels company, a new Q2 acquisition for George Soros, has climbed +143.9% over the past five days. KIOR is currently trading at about $0.22 per share - far from its 52-week high of $3.10.

NII Holdings Inc ( NIHD) climbed +13.94% early in the day, recovering from the hit it took at the start of the week following its bankruptcy protection filing. The new first quarter Soros pick is trading at around $0.09, quite close to its 52-week low of $0.07 and light years away from its $7.03 high.

Up +8.29%, Rock Creek Pharmaceuticals Inc ( RCPI) takes the last spot on today's list of gainers midday. Yet another Q1 Soros buy, Rock Creek is down -77.79% YTD. Earlier in the month, the company pulled its main product, Antabloc, from the shelves.

Rite Aid Dives on Lowered Outlook

Rite Aid Corporation ( RAD) plunged -26.53% midday. Short interest in the company is on the rise, increasing +37.2% during the second half of August. RPRX has been in the Farallon Capital portfolio since Q1 2013 and has declined -62.77% over the past year.

Rite Aid's share price dipped -17.09% following news that the company has lowered its full-year outlook for earnings. While fiscal second-quarter earnings more than tripled, executives anticipate lower profits from new generic drugs that recently lost exclusivity. George Soros holds 2.3 million RAD shares as of Q2, and Ray Dalio 234,000.

Violin Memory Inc ( VMEM) reached midday posting a loss of -10.37%. This morning, the IT company announced that it plans to offer $95 million in convertible notes due in 2019 - news that has apparently left investors unimpressed. Yet another Soros holding, VMEM is up +10.61% YTD.

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The post Rite Aid Plunges as Full-Year Outlook Dims appeared first on ValueWalk.

-By iBillionaire

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