CVS Health stock just sunk to its lowest price in 3 years after the pharmacy chain cut its 2024 profit forecast

The company, which just reported first-quarter earnings, is facing challenges on many fronts, and some investors are clearly heading for the exit.

Shares of CVS Health Corporation are taking a beating in premarket trading this morning. As of the time of this writing, CVS stock is down over 12% to $59.49 per share. That’s around a low the company’s stock price hasn’t seen since November 2020.