Popular meme stock Clover Health (NASDAQ:CLOV) might seem to be going through a rough spot now, but there’s lots of great news to offset it. As volatility continues to rock the boat, investors are being incentivized to pile into the dip. That’s because CLOV stock stands to gain from an incoming conference and a new partnership, freshly inked this morning.
Taking a look at the r/WallStreetBets subreddit, it appears that volatility is leading retail investors to sell off their shares of the healthcare play. Some are reporting their selloffs with high doubt that CLOV will regain its previous traction. Meanwhile, others are saying the current volatility is just a detour on the way to further gains. Of course, the right party will only be decided as CLOV stock continues to move one way or the other, but the 13% loss Clover is cutting today is not ideal.
CLOV Stock Could Be Saved by Upcoming Conference, New Partnership
It’s not all doom and gloom for CLOV holders who might currently be feeling like bag-holders. There are two pieces of news that could help stabilize the healthcare play’s value and help bring it back over $10.
The first is a long-known event that will be happening tomorrow — the Wells Fargo (NYSE:WFC) Virtual Healthcare Conference. Clover CEO Viviek Garipalli will be presenting at the conference tomorrow afternoon with the company’s chief technology officer (CTO). It’s currently not known what Clover’s agenda for the day is. But investors can hope to hear some good news at the conference to provide some buoying to CLOV’s value.
Secondly, the company is announcing a new partnership today. The company is partnering with Athenahealth. Athenahealth is a company whose app market provides innovative healthcare tools to professionals within its large and international network. Through this deal, Athenahealth will make Clover’s Clover Assistant web application available to thousands of healthcare professionals for the first time.
It’s likely that the Wells Fargo conference will include discussion of the partnership; CTO Andrew Toy has spoken before about the applications of the Clover Assistant. In the meantime, though, investors will continue to either sell off their shares or buy the dip. It will be interesting to watch where CLOV stock goes in the coming weeks with these split camps at odds with one another.