Clover Health Investments (NASDAQ:CLOV) stock is dipping lower on Wednesday and some investors might be wondering if now’s a good time to pick up shares of the stock.
Clover Health Investments is a healthcare company that offers Medicare Advantage to its customers. It recently announced a new benefit to those plans: grocery delivery. This would let eligible plan holders have groceries delivered from certain stores as part of their healthcare package.
You would think that news of expanded benefits for members would have CLOV stock running higher today, but that’s not the case. Instead, traders are seeing the shares fall 2.2% as of Wednesday morning.
That’s what brings us to the question of it CLOV stock is worth buying. Let’s take a look at what some of the other contributors to InvestorPlace have to say on the matter below!
CLOV Stock: What the Bulls Say
“Overall, I’m bullish a meaningful low may be nearby. However, I’d suggest waiting for a weekly candlestick to confirm a bottom. Today, that would happen if shares trade through last week’s high of $15.10.” — Chris Tyler, InvestorPlace Contributor
“The long-term upside potential here is huge. To be sure, the stock has gone parabolic recently as retail traders have targeted the name. This won’t last. The hype will fade. And the stock will fall. But… when it does… that may be an awesome time to buy the dip for the long haul, because underneath the meme mania, there’s an AI-powered healthcare technology company here that’s doing some really exciting things.” — Luke Lango, InvestorPlace Senior Investment Analyst
CLOV Stock: What the Bears Say
“The company clearly is implying that everything will turn around and EBITDA losses will decrease quickly. However, this seems unlikely if we are to take the past as prologue. I wouldn’t bet on that turnaround in losses and Wall Street isn’t betting on it either. The only reason CLOV stock is as high as it is? The meme-stock action. Avoid it.” — Alex Sirois
“Clover’s shares were boosted by the meme stock phenomenon, but now the power of meme stock investors is declining, and that trend should continue going forward. Meanwhile, the SEC’s probe of Clover makes CLOV stock very risky. Given these points, the shares are a sell at this point.” — Larry Ramer, InvestorPlace Contributor
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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