Despite Assurances, Health Insurance Innovations Is Crashing 15% Today
Yesterday, short-sellers suggested Health Insurance Innovations (NASDAQ: HIIQ) was overvalued because of investigations into its marketing practices, questions regarding its licensure, and insider selling.
The report caused a 22% decline in the stock and sparked a response from management after the closing bell. Apparently, though, its attempt to reassure investors fell flat. Investors continue to sell shares today, forcing them 15% lower at 12:30 p.m. EDT.
Health Insurance Innovations sells short-term health insurance and hospital indemnity plans online and via third-party distributors.
Source: Fool.com
