Here's Why Big Health Insurance Stocks Are Soaring Today
Big health insurance stocks soared on Wednesday after the results from the Democratic Super Tuesday primaries. Shares of Anthem (NYSE: ANTM) were jumping 13.9% higher as of 11:12 a.m. EST. Humana (NYSE: HUM) wasn't far behind, with its stock up 13.4%. Cigna's (NYSE: CI) shares were rising 10.1% higher. UnitedHealth Group (NYSE: UNH) stock was climbing by 9.9%, while CVS Health (NYSE: CVS) shares were up 4.5%.
The impressive performance by former Vice President Joe Biden in the Democratic primaries on Super Tuesday boosted investors' optimism about the prospects for health insurers. Biden won at least nine states and 351 delegates compared to three states and 280 delegates for Vermont's Sen. Bernie Sanders. Two states -- California and Maine -- haven't been called yet by The New York Times, although Sanders is the clear leader in California while Biden has an edge in Maine.
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Source Fool.com
