Why InnovAge Stock Dived by 11% Today
InnovAge (NASDAQ: INNV) is one company that will be very glad to see 2021 consigned to the history books. On Monday, the company's stock fell by 11%, on the back of two recommendation downgrades from prominent investment banks.
The catalyst for the downgrades was InnovAge's disclosure last week that it had been hit with sanctions from the Centers for Medicare and Medicaid Services (CMS). The Colorado-based senior healthcare specialist will apparently be compelled to suspend all new enrollments at its service centers in the state.
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Source Fool.com
