Genworth Falls 17% in Five Days, Extending Two-Year Slump: Chartby and
Insurer plunged 56% last year amid losses on long-term care
CEO McInerney has sold assets to help rebuild company
Genworth Financial Inc., one of the worst-performing financial stocks in 2014 and 2015, is off to a tough start this year, plummeting 17 percent in the first five trading days.
The insurer slipped to $3.09 at 11:30 a.m. in New York trading, compared with the closing price of $15.53 at the end of 2013. Chief Executive Officer Tom McInerney has been selling assets as he seeks to revitalize the company after it was battered by losses on long-term care coverage, which pays for home health aides and nursing home stays.