UnitedHealth Shares Plunge After CEO’s Murder Prompts Fury at Health Honchos
finance.yahoo.com
Shares in the parent company of slain UnitedHealthcare CEO Brian Thompson have plummeted, as his murder prompted renewed scrutiny of the industry and outrage over the state of US healthcare. UnitedHealth Group’s stock fell 5 percent on Friday alone, bringing its weekly loss to 10 percent. That wiped roughly $56 billion from the company’s market capitalization. After-hours trading continued to dip, dropping 5 percent on Sunday after a video leaked UnitedHealth CEO Andrew Witty, Thompson’s boss, s

UnitedHealth Group’s stock fell 5 percent on Friday alone, bringing its weekly loss to 10 percent. That wiped roughly $56 billion from the company’s market capitalization.

After-hours trading continued to dip, dropping 5 percent on Sunday after a video leaked UnitedHealth CEO Andrew Witty, Thompson’s boss, slamming industry critics on social media as “vitriolic” and “not in tune with reality.”

“We guard against the pressures that exist for unsafe care or unnecessary care,” Witty said in a private video to staff filmed in the wake of Thompson’s execution outside of a New York City hotel Wednesday.

The video, published by independent journalist Ken Klippenstein on Friday evening after markets closed, was met with backlash online. “Talk about misreading the situation,” one X user wrote.

UnitedHealth Group’s plunge follows similar trends in health insurance stocks.

Rival firm Elevance Health—the parent of Anthem Blue Cross Blue Shield—fell six percent by the end of the week.

  • @horse_battery_staple
    7•2 days ago

    The stock has been in free fall since November. The killing had little to do with this. People who hold stocks don’t care and will short, or buy the dip and hedge with a smaller short.

    Money has no ethos. The people affected by the denial of life saving care, often do not own stocks.

  • @NotMyOldRedditName
    12•3 days ago

    “We guard against the pressures that exist for unsafe care or unnecessary care,”

    wow, so out of touch.

  • @PunnyName
    53•4 days ago

    Good. Let’s hope it keeps going.

  • EvilHaitianEatingYourCat
    18•3 days ago

    We guard against the pressures that exist for unsafe care or unnecessary care

    Who are you tho? A doctor? Lol

  • Lexam
    12•3 days ago

    Sad part is they will recover from this. And the people soulless enough to buy their stock during the dip will profit.

  • @surph_ninja
    17•3 days ago

    Unless it’s destroyed, it’s not enough.

  • @Chee_Koala
    16•4 days ago

    We guard against pressures [with the lowest approval rating and by far the highest cost on the planet, without any increased life expectancy to show for it]. Maybe he should say the quiet part out loud in his head, and check out this mythical ‘reality’ he speaks of another time.

    • murmeladeEnglish
      1•2 days ago

      Would be hilarious if he’s released on mistrial and immediately goes after Witty.