Clover Health Investments Corp. provides healthcare insurance services. It uses its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients. The company was founded on July 17, 2014 and is headquartered in Franklin, TN.
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After underwhelming Q1 results in May that showed worryingly low guidance metrics, JP Morgan downgrades meme stock Clover Health. Nobody ever said the Reddit crowd needed strong fundamentals to push a stock though, and prices still lift 4%.
Clover Health is getting drawn back into the meme stock madness, adding to Tuesday’s gains with a jump of over 10% in the first two hours of trading after announcing that it will issue more Class B shares.
It looks like there's a new Reddit darling on the scene as retail investors dive into Clover Health and push prices of the medicare insurance stock up by a fragrant 85%.
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