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We recently compiled a list of the 10 Firms Fall Amid Disappointing Earnings Performance. In this article, we are going to take a look at where Oscar Health Inc. (NYSE:OSCR) stands against the other stocks.
Wall Street’s main indices all finished in the green territory on Tuesday, buoyed by news that the US is set to temporarily delay taxes levied on select goods from Canada and Mexico to make way for a potential negotiation.
The Dow Jones inched up by 0.30 percent, while the S&P 500 and Nasdaq both jumped 0.72 percent and 1.35 percent, respectively.
Meanwhile, 10 companies bucked an overall positive market sentiment, leading declines mostly due to disappointing earnings performance in the past quarter. This article details the reasons behind their poor performance.
To come up with Tuesday’s biggest losers, we only considered the companies with $2 billion in market capitalization and $5 million in daily trading volume.
A close up of a patient and a healthcare professional engaging in conversation, showing the company's commitment to patient care.
Oscar Health Inc. (NYSE:OSCR)
Health insurance firm Oscar Health Inc. (NYSE:OSCR) saw an 8.78 percent decline in its stock price on Tuesday to finish at $15.28 each after reporting mixed earnings performance in the fourth quarter of 2024.
In three months ending December 2024, Oscar Health said net loss expanded to $153 million from the $150 million registered in the same period a year ago. However, it swung to a net income of $25.4 million in full-year 2024 from a $271 million net loss in 2023.
Revenues for both the fourth quarter and full year came in higher by 67 percent and 57 percent, respectively.
For this year, Oscar Health said it targets to book between $11.2 billion and $11.3 billion in total revenues, or an increase of 23 percent year-on-year.
Overall OSCR ranks 4th on our list of Tuesday's biggest losers. While we acknowledge the potential of OSCR 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 timeframe. If you are looking for an AI stock that is more promising than OSCR 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.