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We recently published a list of These 10 Firms Were Thursday’s Top Performers. In this article, we are going to take a look at where Clover Health Investments, Corp. (NASDAQ:CLOV) stands against other firms that were Thursday’s top performers.
Wall Street’s main indices closed higher again on Thursday, with the Dow eking out a 0.92-percent gain, while the S&P 500 and Nasdaq Composite grew 0.53 percent and 0.22 percent, respectively.
Ten companies, predominantly under the health, energy, and technology sectors—mirrored the gains on the back of stronger earnings performance and other catalysts fueling buying appetite.
Thursday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
An older Medicare-eligible consumer smiling happily while receiving healthcare services at a clinic.
Clover Health Investments, Corp. (NASDAQ:CLOV)
Clover Health Investments, Corp. (NASDAQ:CLOV) resumed an eight-day winning streak on Thursday to end at $4.68 apiece—a new all-time high, as investor sentiment remained buoyed by news that its membership count jumped by 27 percent to 100,000 after the recent election period, signaling confidence in the company.
According to Clover Health (NASDAQ:CLOV), the growth in its membership was primarily driven by members switching from other plans, thanks to its robust plan benefits.
Clover Health (NASDAQ:CLOV) said approximately 94 percent of members are enrolled in its Medicare Advantage PPO plan which has been awarded a 4-star rating by the Centers for Medicare & Medicaid Services (CMS).
Earning a 4-star rating means the company demonstrated a high level of quality and performance compared to other Medicare Advantage plans.
Overall, CLOV ranks 10th on our list of firms that were Thursday’s top performers. While we acknowledge the potential of CLOV as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CLOV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.