Deerfield, Illinois-based Walgreens Boots Alliance, Inc. (WBA), is an integrated healthcare, pharmacy, and retail company. With a market cap of $7.8 billion, Walgreens operates through the U.S. Retail Pharmacy,

But making Walgreens Boots Alliance an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of WBA entered into oversold territory, changing hands as low as $8.

It's tempting to gravitate toward dividend stocks that pay huge dividends. Take Walgreens Boots Alliance (NASDAQ: WBA) for example. The pharmacy chain's dividend yields over 11% at its current share price. In other words, investors get double-digit investment returns before factoring in any potential share price movement.

Walgreens Boots Alliance (WBA) has become a fallen angel, costing investors billions of dollars in the past few years. Its stock has imploded, falling from $69 in 2014 to $9 today, meaning that a $1000 investment at its top would now be worth just $130.

Walgreens stock has been a falling knife this year, but the company has levers it can pull on to strengthen its operations.

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