Michael Burry dumped just about everything in Q3 to guard against the ‘mother of all crashes’ — but he did purchase 3 interesting new holdings

Reuters

CVS to close 900 drugstores in three years to beef up health services

Best known for its chain of drugstores in more than 9,900 locations, the company has been working to expand its services since it acquired health insurer Aetna in 2018. CVS said that as part of its strategic review it would create an enhanced version of its health hubs that offer treatment for common ailments as well as chronic care to add more customers. Rival Walgreens Boots Alliance also recently shifted focus beyond its drugstores, investing $5.2 billion in VillageMD and $330 million in post-acute and home care provider CareCentrix.