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Why Cigna Group Stock Dived Today
Monday wasn't a very good day for health insurers, and if a day's not good for health insurers you can bet Cigna Group (NYSE: CI) stock took it on the chin.The blow came from the highest levels of government, spooking investors and driving down the stock prices of numerous healthcare-institution stocks. Cigna's share price eroded by more than 5%, on a day when the S&P 500 index rose by over 3.2%.Big Healthcare as an industry was hit from two directions on Monday. The first blow came from President Trump, who in signing a new executive order denounced the pharmacy benefit managers (PBMs) that negotiate drug prices for insurers and other healthcare institutions. Continue reading
Monday wasn't a very good day for health insurers, and if a day's not good for health insurers you can bet Cigna Group (NYSE: CI) stock took it on the chin.
The blow came from the highest levels of government, spooking investors and driving down the stock prices of numerous healthcare-institution stocks. Cigna's share price eroded by more than 5%, on a day when the S&P 500 index rose by over 3.2%.
Big Healthcare as an industry was hit from two directions on Monday. The first blow came from President Trump, who in signing a new executive order denounced the pharmacy benefit managers (PBMs) that negotiate drug prices for insurers and other healthcare institutions.
