Why GoHealth Stock Was Slammed Today
A victim of the dreaded double downgrade, GoHealth (NASDAQ: GOCO) was far from a healthy stock on Wednesday. Shares of the Medicare-plan marketplace tanked by nearly 22% on the day, as investors took a new, downbeat analysis to heart.
The downgrade came from Bank of America (NYSE: BAC) Securities analyst Michael Cherny, who knocked his recommendation on GoHealth stock all the way down from buy to underperform (i.e., sell). Cherny also put his price target on the guillotine, chopping it to $3.50 per share from $7.50.
Image source: Getty Images.
Source Fool.com
