calven

WellCare Plummets After FBI Raid

I hope we know more about this whole situation November 5th. I'm assuming WellCare purposely delayed releasing information until that date in order to "lay it all on the table" at the conference call.
The article should read "trading within 10% of cash per share".

Points:
If this is anything like precedents of the "online education companies" not very long ago, shares could have a small rebound.

CrossProfit's point was spot on- the timing of the raid to the board meeting implies that the FBI had some hard evidence on individuals inside the company conducting criminal activity.

While Alan's point on value was well taken, I question why the stock is still trading at $30.00. Given Alan's $678m book value shares should be trading closer to $15.00, why the high premium>?

I would imagine they were overcharging, charging for people that no longer existed (deceased) and denying people coverage...inflating profits.

What do you think of the insider trades over the past year? Any comments on that?