Has there been any discussion regarding the stock purchase plan? Employees that have been participating have lost a lot of money. Are they still encouraging participation in any way? There are already multiple class action lawsuits that have been launched for owners of the stock based on poor guidance.
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To me this whole company stock purchase plan has major Ponzi vibes: big promises, no real value, and you're basically just funding someone else's exit.
Everyone invests at their own risk. You only actually lose if you sell when it’s down. Ride it out.
@ac That answer is a disservice to anyone reading this thread. CNC is down over 60% in 5 years and over 22% in ten years. So unless you are day trading or shorting this thing, you are historically more likely than not to actually lose money. Do yourself a favor and just invest in an index fund based upon the S&P.
Stocks go up and down. Yes there’s a lot of loss right now but buying right now with the better than likely chance of going up will see fruit if you cost average the stock over time.
They typically don't discuss it in an effort to get employees to buy, nor to they discourage it. You get a 5% discount on the price at the close of quarter: use that information how you will.
Class action suits are typically frivolous. Lawyers see a group who lost money and pounce at the opportunity to create a groundswell, and in the process, make out well.
Sarah sat on the news of the guidance removal just long enough to trigger the buy at $50 for her employees ESPP, knowing it would drop immediately. As someone said in another thread, it's a nothing-burger in terms of the overall trading of Centene's stock, but it's still a di-k move to your employees. She had news that could've saved us a few hundred to several thousand each, and did nothing with it because F them - I'm about to lose 8 figures.