Centene Shares Plunged: What You Need to Know (CNC)

Centene Shares Plunged: What You Need to Know

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Centene (NYSE: CNC ) fell 12% to begin trading today, but recovered some of that loss and is now down just 6%.

So what: Georgia said it was going to double check Medicaid records for overpayments, and AMERIGROUP (NYSE: AGP ) said it would take a $0.16 per share charge. The state found it had double paid some insurers and it would be looking for money back for those over payments.

Now what: It seems a little odd that neither insurers nor anyone in the government knew that these double payments were happening. What should be good for taxpayers is a drag for investors today, and who knows exactly what the impact will be. For now it’s a big unknown but a number of insurers have been dragged lower today and I’m leery of buying on the dip.

Interested in more info on Centene? Add it to your watchlist.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal — and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate — and why could it make a few in-the-know investors some major profits over the coming months and years?

Enter your email address below to find out what made Jobs so enraged!

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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