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Why HealthEquity Stock Is Sinking Today

TheMotleyFool

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Why HealthEquity Stock Is Sinking TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of HealthEquity (NASDAQ: HQY), a leading provider of managed healthcare accounts, fell as much as 12% on Monday. The stock was down about 11% as of 11:03 a.m. EDT.

There wasn't a single press release, SEC filing, or analyst downgrade that could justify the double-digit decline. That makes it likely that HealthEquity's stock is simply being sold along with the rest of the market today due to the growing concerns of the spread of COVID-19 (which is more commonly known as the coronavirus) and the shock to the oil markets over the weekend.

Image source: Getty Images.

Source Fool.com

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