Bank of America is not going to play the meme stock game, downgrades Clover Health

cnbc2021-06-10

Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America. The stock closed at $16.92 per share ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Endlesstory
2021-06-12
Endlesstory
Baf
Bankai
2021-06-11
Bankai
Hodling CLOV! Buy more of it!
benben1011
2021-06-11
benben1011
latest
- benben1011:
  ?
Huatliao777
2021-06-11
Huatliao777
Why not?
OMTTrading
2021-06-10
OMTTrading
I really hope reddit pumps CLOV to 30.
Lain.
2021-06-10
Lain.
Meme stock is the future

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1101982050?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-06-10 19:49","share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","id":"1101982050","market":"us","top_or_hot":-1,"title":"Bank of America is not going to play the meme stock game, downgrades Clover Health","media":"cnbc","content":"<div>\n<p>Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America.\nThe stock closed at $16.92 per share ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/10/clover-health-stock-downgrade-bank-of-america-reddit.html\">Source Link</a>\n\n</div>\n","source":"cnbc_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of America is not going to play the meme stock game, downgrades Clover Health</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank of America is not going to play the meme stock game, downgrades Clover Health\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 19:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/10/clover-health-stock-downgrade-bank-of-america-reddit.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America.\nThe stock closed at $16.92 per share ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/10/clover-health-stock-downgrade-bank-of-america-reddit.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CLOV","symbol_name":"Clover Health Corp","start_time":0,"source_url":"https://www.cnbc.com/2021/06/10/clover-health-stock-downgrade-bank-of-america-reddit.html","article_id":"1101982050","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/06/10/clover-health-stock-downgrade-bank-of-america-reddit.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1101982050","pubTimestamp":1623325769,"columns":[],"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the h","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CLOV":"Clover Health Corp"},"translate_title":"美国银行不打算玩迷因股票游戏，下调三叶草健康评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLOV":0.9},"content_text":"Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America.\nThe stock closed at $16.92 per share on Wednesday, up more than 120% in June, and briefly traded above $28. The company, which went public through a SPAC in a deal aided by billionaire Chamath Palihapitiya, has become favorite of social media traders over the past week.\nBank of America analyst Kevin Fischbeck downgraded the stock to underperform from neutral, saying in a note to clients on Thursday that the fundamentals couldn’t support the stock price.\n“The company is now trading at a 70% premium toALHC... its closest comp, despite a similar growth profile and lower near term margin trajectory,” the note said. “Although we continue to believe that that the Clover Assistant provides value and helps reduce costs, and CLOV is likely to continue to grow faster than the [Medicare Advantage] market overall, the current growth trajectory does not support the valuation.”\nThis is not the first time the firm has backed away from the meme stocks. Last Friday, another Bank of America analystterminated coverage of GameStop and removed his rating for AMC.\nBank of America also cited recent guidance cuts for membership in its direct contracting business as a reason for skepticism.\n“To some degree, we think falling short on membership in a new government program is completely understandable given the number of moving pieces, but doing so the quarter after lowering the MA membership guide leaves us with low visibility into the outlook,” the note said.\nThe firm reiterated its price target of $10 per share for Clover, which is more than 40% below where the stock closed on Wednesday.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":188885477,"gmtCreate":1623428077599,"gmtModify":1704203564885,"author":{"id":"3582053750057944","authorId":"3582053750057944","name":"Endlesstory","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582053750057944","authorIdStr":"3582053750057944"},"htmlText":"Baf&nbsp;","listText":"Baf&nbsp;","text":"Baf","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188885477","repostId":1101982050,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":181738396,"gmtCreate":1623410854815,"gmtModify":1704202851954,"author":{"id":"3558673211102792","authorId":"3558673211102792","name":"Bankai","avatar":"https://static.tigerbbs.com/c7e0e10df42a0abec55080b7e549ec86","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3558673211102792","authorIdStr":"3558673211102792"},"htmlText":"Hodling CLOV! Buy more of it!&nbsp;","listText":"Hodling CLOV! Buy more of it!&nbsp;","text":"Hodling CLOV! Buy more of it!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181738396","repostId":1101982050,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":181922131,"gmtCreate":1623371268023,"gmtModify":1704201820795,"author":{"id":"3579817947812386","authorId":"3579817947812386","name":"benben1011","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579817947812386","authorIdStr":"3579817947812386"},"htmlText":"latest","listText":"latest","text":"latest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/181922131","repostId":1101982050,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4675130,"gmtCreate":1623371286879,"gmtModify":1663228406041,"authorId":3579817947812386,"author":{"id":3579817947812386,"idStr":"3579817947812386","authorId":3579817947812386,"name":"benben1011","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":181922131,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"},{"id":183771664,"gmtCreate":1623364583358,"gmtModify":1704201576719,"author":{"id":"3586423356695873","authorId":"3586423356695873","name":"Huatliao777","avatar":"https://static.tigerbbs.com/f3bd00af21c669dbd44aee60142f7346","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3586423356695873","authorIdStr":"3586423356695873"},"htmlText":"Why not?","listText":"Why not?","text":"Why not?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183771664","repostId":1101982050,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183248111,"gmtCreate":1623333944233,"gmtModify":1704201164268,"author":{"id":"3585177463615228","authorId":"3585177463615228","name":"OMTTrading","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585177463615228","authorIdStr":"3585177463615228"},"htmlText":"I really hope reddit pumps CLOV to 30.","listText":"I really hope reddit pumps CLOV to 30.","text":"I really hope reddit pumps CLOV to 30.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183248111","repostId":1101982050,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183202963,"gmtCreate":1623331827252,"gmtModify":1704201057062,"author":{"id":"3585958368634426","authorId":"3585958368634426","name":"Lain.","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585958368634426","authorIdStr":"3585958368634426"},"htmlText":"Meme stock is the future&nbsp;","listText":"Meme stock is the future&nbsp;","text":"Meme stock is the future","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183202963","repostId":1101982050,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":28,"commentSize":16,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1101982050"}