UHC is TOAST
Looks like UHC might gap lower tomorrow morning; in addition to a rather robust sell-off today, hourly net volume was negative for every hour today. And of course...they've been exposed as a company likely to break insurance contracts 32% of the time. Their current CEO insinuated that his workers were in the "healthcare industry" because they "care". Insurance companies are not in the healthcare industry...they're in the insurance/finance industry...the more "retained premiums" the more they have to "invest" in the stock market, fx, metals, commodities...they're literally in every market like giant hedge funds.
Luckily, this horrid event happened before seniors made their annual choice for Medicare Advantage plans and the news UHC denied 32% of claims likely turned off any Medicare users. Feel pretty sure private companies are going to eliminate UHC as a choice in their insurance offerings, same for governments. Feel like this company is toast and it's only the beginning.
Luckily, this horrid event happened before seniors made their annual choice for Medicare Advantage plans and the news UHC denied 32% of claims likely turned off any Medicare users. Feel pretty sure private companies are going to eliminate UHC as a choice in their insurance offerings, same for governments. Feel like this company is toast and it's only the beginning.
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