Why Community Health Systems Stock Jumped Today
Shares of Community Health Systems (NYSE: CYH) were trading more than 18% higher as of 3:50 p.m. EDT Wednesday. The hospital operator didn't announce any new developments, so the exact reason for the sizeable gain is not entirely clear.
However, an article published Tuesday by the Nashville Post stated that Community Health Systems and Quorum Health are "inching closer to resolving several shareholder lawsuits related to Quorum's 2016 spinoff from CHS." A resolution to these lawsuits would be good news for Community Health Systems. The company's stock was at its all-time low prior to Wednesday's bounce, even after it reported better-than-expected second-quarter results earlier this month.
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Source Fool.com
