Why UnitedHealth Stock Imploded Last Month
Shares of UnitedHealth Group (NYSE: UNH) fell in May, finishing the month down 26.6%. The collapse came as the S&P 500 (SNPINDEX: ^GSPC) gained 5.5% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 7.9%.The troubled health insurance giant faced a series of damning reports and allegations of fraud and misconduct following the sudden departure of its CEO.In May, UnitedHealth's then-CEO, Andrew Witty, announced he was stepping down, citing "personal reasons." The sudden loss of its CEO sent shockwaves through the company and signaled to investors the depth and scale of UnitedHealth's ongoing issues.Continue reading
Shares of UnitedHealth Group (NYSE: UNH) fell in May, finishing the month down 26.6%. The collapse came as the S&P 500 (SNPINDEX: ^GSPC) gained 5.5% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 7.9%.
The troubled health insurance giant faced a series of damning reports and allegations of fraud and misconduct following the sudden departure of its CEO.
In May, UnitedHealth's then-CEO, Andrew Witty, announced he was stepping down, citing "personal reasons." The sudden loss of its CEO sent shockwaves through the company and signaled to investors the depth and scale of UnitedHealth's ongoing issues.
