We love searching for value among former Wall Street darlings that are now unwanted and unloved. In the same way herd behavior can push a company’s share price to insane heights, investors also can move in the opposite direction when a formerly high-flying company falls out of favor. In those cases, investors will often either leave the stock for dead or decide they can’t stick around to see whether the management can turn it around. As those investors move to the sidelines, share prices fall even further. Investors who can spot these opportunities and have enough patience to let things play out (and stomach paper losses) can find great bargains among these fallen angels of Wall Street. This article explores whether CVS is a “fallen angel” ready to rise or a value trap.