Clinton buys Clover Health shares ending four-day selloff
Mar. 07, 2022 10:11 AM ETClover Health Investments, Corp. (CLOV)By: Dulan Lokuwithana, SA News Editor20 Comments
- The shares of health insurer Clover Health Investments (CLOV +24.3%) have ended a four-day skid on Monday after its board member Chelsea Clinton bought 100,000 company shares.
- Ms. Clinton, who is the daughter of the former U.S. President Bill Clinton, and former Presidential candidate Hilary Clinton, made the transaction last Thursday, a filing submitted with the U.S. Securities & Exchange Commission (SEC) indicates.
- The former Vice-Chair of the Clinton Foundation, has served as a member of Clover’s board of directors since February 2017. The transaction at $2.53 per share is valued at more than $252K. It is Ms. Clinton’s first insider purchase of Clover (NASDAQ:CLOV) shares.
The company focused on Medicare Advantage health insurance plans made its public debut in Jan. 2021 thanks to a SPAC deal with Social Capital Hedosophia Holdings Corp. III, backed by well-known venture capitalist Chamath Palihapitiya.
- Clover (CLOV) has lost more than a third over the past twelve months. However, Wall Street welcomed the company’s 2022 guidance issued with its Q4 2021 results last month.