Technology

Buying PillPack would have cost Walmart $700 million. Not buying it wiped $3 billion off the stock

Walmart dallied in closing the deal because of regulatory concerns. Meanwhile, Amazon had already been interested, then ramped up talks after CNBC’s April report that PillPack was in acquisition talks.

After the news was announced on Thursday by the two companies, Walmart’s stock took a tumble, along with the largest drug supply chains. The company lost $1.03 between Wednesday’s close and Thursday’s close, falling from $86.89 to $85.86. That loss, multiplied by 2,950,844,393 shares outstanding based on their 10-Q from earlier this month, yields a loss in market value of $3.04 billion.

So buying PillPack would have cost $700 million. Not buying it? $3 billion.

Walmart declined to comment.

— Additional reporting by Lauren Hirsch