Biden Comeback Drives $48 Billion Gain for Health Insurers
- Anthem, UnitedHealth post biggest intraday gains since 2008
- Goldman predicts a relief rally for health care this week
This article is for subscribers only.
Health insurers added about $48 billion in market value and led U.S. stock market gains on Wednesday after Joe Biden’s once-faltering Democratic presidential campaign was reanimated on Super Tuesday.
The country’s largest health insurer, UnitedHealth Group Inc., increased its market capitalization by more than $20 billion in one day as Wall Street looks on a candidacy of the former vice president more favorably than that of Senator Bernie Sanders. Sanders has campaigned on the promise of Medicare-for-all, which poses a threat to private insurers.