Molina Healthcare stock sheds 3.08% and underperforms competitors
Updated
Updated · MarketWatch · May 7
Molina Healthcare stock sheds 3.08% and underperforms competitors
11 articles · Updated · MarketWatch · May 7
Shares closed at $185.94 on Friday, extending losses to a second day even as the S&P 500 rose 0.84% and the Dow added 0.02%.
Molina lagged rivals including Humana, which jumped 11.27% to $274.96, and Centene, which gained 1.78% to $55.96, in a broadly favourable market session.
The stock finished 44.16% below its 52-week high of $333 reached on 12 May, while trading volume of 1.5 million was slightly below its 50-day average.
As Molina's stock plunges, is its major strategy shift a masterstroke or a sign of deeper trouble?
Why do analysts predict massive growth for Molina despite its catastrophic quarter and shrinking membership?