Is Clover Health a Buy?
Shares of Medicare Advantage insurer Clover Health (NASDAQ: CLOV) have seen wild performance for much of the year. In June, a short squeeze prompted by Reddit's WallStreetBets forum pumped the stock to a record $28.85 a share from about $7. But the rally quickly lost its momentum, and the stock fell back near pre-squeeze levels.
The speculative saga has brought a seldom-discussed problem into the spotlight -- Clover Health's lack of a clear path to profitability. With nearly 20% of its shares outstanding still sold short, can the company prove its skeptics wrong?
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Source Fool.com
