On Thursday, the Clover Health Investments Corp (NASDAQ: CLOV) emerged as a major gainer late on in the day.
The stock soared by as high as 20.50% after news favorable to the company emerged from the federal government. In a fresh development, the Center for Medicare and Medicaid announced on Thursday that Clover Health Investments has been chosen as a participant in Medicare and Medicaid’s Global and Professional Direct Contracting Model. The company is one of the 53 participants to have been chosen.
The period for participation started on April 1 and is going to continue for a year. It is a major development for the company and has naturally sparked a lot of interest in Clover Health. It has been a beaten-down stock for quite a while but the latest development has actually sparked considerable interest in the stock. It now remains to be seen if the Clover Health Investments stock can manage to add to its gains today.
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