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Why Is Oscar Health (OSCR) Stock Up 82% Today?


  • Oscar Health (OSCR) stock is taking off on Tuesday with new CEO news.
  • Mark Bertolini will be the next CEO of the company.
  • Bertolini is the prior CEO of Aetna, which sold for around $70 billion to CVS Health (CVS).
OSCR Stock - Why Is Oscar Health (OSCR) Stock Up 82% Today?

Source: metamorworks / Shutterstock

Oscar Health (NYSE:OSCR) stock is heading higher on Tuesday after the healthcare company announced Mark Bertolini as its new CEO.

That news has holders of OSCR stock excited today as Bertolini is a veteran in the healthcare field. Prior to joining Oscar Health, he served as the CEO of health insurance company Aetna before it was bought by CVS Health (NYSE:CVS).

This will see Bertolini take over as the next CEO of Oscar starting in April. The exec will replace current CEO and founder Mario Schlosser. This move comes as Oscar Health seeks to become a profitable health insurance company, per Reuters.

OSCR Stock Reactions on Tuesday

Investors are excited about the idea of Bertolini taking over as the new CEO of Oscar Health. That makes sense considering his prior success with Aetna. The exec sold that company to CVS Health in 2018 for nearly $70 billion. If he can bring the same value to this company, OSCR should benefit.

Traders are already piling into OSCR stock today, which brings with it heavy trading. That has some 35 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 1.6 million shares.

OSCR stock is up 82% as of Tuesday morning.

There’s more stock market news worth talking about below!

We’ve rounded up all of the most recent stock market coverage traders need to know about on Tuesday! Among that is what has shares of Paramount (NASDAQ:PARA), Bird Global (NYSE:BRDS) and Lyft (NASDAQ:LYFT) stock moving today. You can find more on these matters at the following links!

More Tuesday Stock Market News

On the date of publication, William White did not hold (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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-oscar-health-oscr-stock-up-82-today/.

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