Clover Health Investments (CLOV) Retreats Following Earnings: What Now?

SPAC mergers have resulted in generating significant value for investors over the past months and perhaps it is also time to take a look at how the stocks are doing after the new entities reported their earnings.

Clover Health Investments (CLOV) Retreats Following Earnings: What Now?

This brings us to the subject of Clover Health Investments Corp  (NASDAQ: CLOV), which had gone public through a SPAC merger and reported its fourth-quarter earnings yesterday. The earnings actually proved to be bad for the stock after it fell by as low as 3.50% in after-hours following the announcement of the financial results.

The company posted revenues of as much as $166.2 million, which reflected a year-on-year rise of as much as 44%. On the other hand, the revenues for the full year of 2020 came in at $673 million. That reflected a year-on-year rise of 46%. The performance was welcomed by investors and it remains to be seen if the stock can continue to add to its gains today.

Michael Rowels

Weekend Contributor.Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.