6/12/24 price was $536.93 per share Today; the price is $381.81 SLT and BOD has to go.
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At this point you can no longer blame Gail and her brain trust. They are little more than grifters su-king the place dry. Everyone sees that. It's the board that has completely abdicated it's responsibility. Expect more layoffs, denials, reduced benefits, and providers dropping out.
Thank you, R. Kelly Clark, Liz Tallett, and team, for your complicit incompetence.
I was watching CNBC this morning and they had a piece on Elevance. Cramer’s take was “I wouldn’t touch this thing with a 10 foot pole. And that’s before the OBBB Medicaid cuts hit”. With the reduction in dollars inflow, the ELT has to keep shareholder value up as much as possible to avoid a blood bath. It’s either reduce provider payouts (they’d leave in droves) or more layoffs of higher paid employees (meaning the worker bees onshore) and shift the workload to A.I. (go Spark!) and/or offshore. I’m retiring at the end of the month and dumped my ESOP shares last year. Best of luck to those where that’s not an option.
I took a short position, and it seems to be working. Just a little more and I can retire.
The industry has reached a point of insatiability. The current business model is not sustainable any longer. It was good while it lasted.
Sad someone benefited not me
Bad leadership plus poor planning plus worse execution of plans
It’s because of a lawsuit for securities fraud.
Sold all of mine in 2024 - glad I did -
Yea that stock is heading south. Glad I sold mine last year