Despite Assurances, Health Insurance Innovations Is Crashing 15% Today

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. 

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Source: Fool.com