After being battered by a report that the Federal Trade Commission would block the Walgreens-Rite Aid merger, Rite Aid shares were bouncing back modestly this morning. The drug store stock was trading around $3.12 a share today, after touching a low of $2.91 on Friday, before closing at $3 -- down 15 percent on the day. A major Rite Aid investor says the volatility in shares of the East Pennsboro, Pa., drug store chain might not end until investors know one way or the other whether the FTC will approve the long-sought deal with Walgreens. "I know Rite Aid is praying for a deal," Florida investor Steve Krol, who owns 245,000 Rite Aid shares, said in a phone interview this morning. Should Rite Aid's sale to Walgreens be blocked, Rite Aid shares could fall to around $2, Krol says, citing several analysts who follow the stock. The merger would combined the No. 2 and No. 3 drug store chains, and the FTC has been weighing whether the deal would hurt competition.