Clover Health rises as billionaire Palihapitiya discloses stake

Clover Health Investments

04/10/2022 16:28

(Updates)
    ** Clover Health Investments Corp's shares  CLOV.O  rise 7%
to $1.89 in early trade
    ** Venture investor Chamath Palihapitiya reports less than
5% take in co, as per SEC disclosure
    ** From Sept 27-Oct 3, Palihapitiya and his affiliates sold
over 11 million shares in prices ranging from $1.55-$2.02, as
per the filing
        ** Most stocks in the broader market are up, with Nasdaq
Composite index  .IXIC  up over 3%  .N 
  
    ** 1 of 6 brokerages rate the stock "strong buy", 3 "hold"
and 2 "sell"; their median PT is $3 - Refinitiv data
    ** Including session's gain, stock had fallen 50% YTD
 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))