Why CVS Health Dropped Today
Shares of CVS Health (NYSE: CVS) fell as much as 5% on Monday. The drop is most likely linked to the news that presidential hopeful Bernie Sanders won Nevada's Democratic caucus on Saturday. Part of the fall is also likely linked to the general market weakness surrounding the spread of COVID-19 (the illness caused by a novel coronavirus).
Traders sold off shares of many health insurance stocks on Monday, including UnitedHealth Group, Centene, Cigna, and Humana. CVS Health was also sold off hard because it purchased health insurance giant Aetna a few years ago.
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Source Fool.com
