{"id":269609,"date":"2021-06-08T22:55:41","date_gmt":"2021-06-08T19:55:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/reddits-latest-darling-chamath-palihapitiyas-clover-health\/"},"modified":"2021-06-08T22:55:41","modified_gmt":"2021-06-08T19:55:41","slug":"reddits-latest-darling-chamath-palihapitiyas-clover-health","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/reddits-latest-darling-chamath-palihapitiyas-clover-health\/","title":{"rendered":"#Reddit’s latest darling: Chamath Palihapitiya’s Clover Health"},"content":{"rendered":"

“#Reddit<\/a>’s latest darling: Chamath Palihapitiya’s Clover Health<\/strong>”<\/p>\n

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The Reddit crowd\u2019s latest stock darling is a little-known health care company that became a target of short sellers earlier this year after a respected research firm called it a \u201cbroken business.\u201d\u00a0 <\/p>\n

Shares of Clover Health surged as much as 109 percent on Tuesday before retreating to a gain of closer to 50 percent as chatter about it grew to a deafening roar on Reddit\u2019s popular Reddit\u2019s WallStreetBets forum. <\/p>\n

The company, which provides consumers access to public and private health plans, went public in January with the help of \u201cSPAC King\u201d <\/a>Chamath Palihapitiya. <\/p>\n

And while deals to take companies public via special purpose acquisition companies have lost some of their luster amid increased regulatory scrutiny, Palihapitiya\u2019s Clover app<\/a>ears to be getting a second wind on renewed efforts by day traders to squeeze Wall Street short sellers. <\/p>\n

\"Venture
Venture capitalist and \u2018SPAC King\u2019 Chamath Palihapitiya speaks during an event in 2018.<\/figcaption>
Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n

Some 43.5 percent of Clover\u2019s float shares have been sold short, CNBC said Tuesday, citing data from S3 Partners. The push kicked off in February after respected research firm Hindenburg Research issued a scathing report suggesting the company was facing a probe from the Department of Justice over possible corruption charges. <\/p>\n

Hindenburg, known for its takedown of electric-vehicle maker Nikola last year, also raised questions about whether Palihapitiya misled investors about the business and failed to disclose the investigation. <\/p>\n

Clover has disputed Hindenberg\u2019s finding, but investors still sent the stock down from $13 at the beginning of February to below $7 last month. On Tuesday, the stock closed up 85 percent percent to $20.81 a share. <\/p>\n

\"WallStreetBets
The WallStreetBets Reddit app has been linked to other dramatic changes in stock prices, including shares of AMC Entertainment and Game<\/a>Stop.<\/figcaption>
SOPA Images\/LightRocket via Gett<\/span><\/figcaption><\/figure>\n

Clover\u2019s surge is just the latest eye-popping increase among the so-called \u201cmeme stocks\u201d that pass muster with Reddit\u2019s WallStreetBets crowd. <\/p>\n

Last week, indebted movie theater chain AMC Entertainment\u2019s shares more than doubled as retail traders buoyed up the price.<\/p>\n

Recent \u201cmeme stock\u201d rallies have prompted the Securities and Exchange Commission to say it was looking into\u00a0signs of market manipulation<\/a>\u00a0due to concerns about \u201cvolatility in certain stocks.\u201d<\/p>\n

The volatility has proved challenging for Wall Street. Several financial analysts have stopped covering Reddit favorites like GameStop in recent weeks. The GameStop rally in January, meanwhile, resulted in major losses by hedge funds shorting the video game retailer, as well as hearings on Capital Hill after no-fee trading app Robinhood temporarily barred users from buying it and other \u201cmeme stocks.\u201d\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Reddit’s latest darling: Chamath Palihapitiya’s Clover Health” The Reddit crowd\u2019s latest stock darling is a little-known health care company that became a target of short sellers earlier this year after a respected research firm called it a \u201cbroken business.\u201d\u00a0 Shares of Clover Health surged as much as 109 percent on Tuesday before retreating to a…<\/p>\n","protected":false},"author":1,"featured_media":269610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/reddit.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[108651,73014,71451],"class_list":["post-269609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-8-21","tag-health-care","tag-memes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=269609"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/269610"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=269609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=269609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=269609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}