Here's Why Clover Health Is Soaring Today

Clover Health (NASDAQ: CLOV), the Medicare insurance technology company, has had a volatile history since going public through a Chamath Palihapitiya-backed SPAC, and it is on the move on Tuesday. As of 2 p.m. EDT, the stock was higher by more than 25%.

Surprisingly enough, the move is coming without any company-specific news. But recall that this isn't the first time we've seen Clover skyrocket without a good business-related reason. In June, the stock jumped from about $9 to more than $28 over the course of three trading sessions as part of a "meme stock" craze that also saw fellow meme stocks AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) move sharply higher.

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Source Fool.com