tyb
Lagging insurance industry confirmation… 😎
Centene, one of the largest health insurers in the U.S., crashed in early trading in New York after withdrawing its 2025 guidance.
Centene now estimates a 38% hit to earnings - due to excess morbidity trends observed in 22 states.
Wakely revealed significantly worse-than-expected results in terms of higher aggregate morbidity than Centene had historically tracked.
https://zerohedge.com/markets/centene-crashes-after-pulling-2025-guidance-unexpected-risk-adjustment-results
https://x.com/EthicalSkeptic/status/1940448033516175758
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Indeed. Morbidity leads mortality.
https://x.com/DowdEdward/status/1940454600936743007
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Centene Crashes Most On Record, Sparks Selloff In Managed Care Stocks
Update (1100ET):
Centene, one of the largest health insurers in the U.S., crashed in early trading in New York after withdrawing its 2025 guidance, citing new data from an independent actuarial firm that revealed weaker-than-expected trends in its Affordable Care Act marketplaces and mounting Medicaid costs.
Shares in New York crashed as much as 40% by 10:30 a.m. ET—marking the largest single-day decline in the stock's history. Centene first traded in its initial public offering on December 13, 2001, at $14 per share.