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Here's Why This Insurance Stock Is Down by Nearly 50% Today

TheMotleyFool

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Here's Why This Insurance Stock Is Down by Nearly 50% Today

The stock market was having a generally strong day on Tuesday, with all three major averages in the green shortly after noon ET, but online insurance broker SelectQuote (NYSE: SLQT) was a major exception. As of 12:20 p.m. ET, shares were down by a staggering 49% for the day.

SelectQuote is an online insurance sales agency that sells life, auto, home, and Medicare insurance plans through its website. And as you might expect, its latest earnings report is behind today's massive plunge.

Image source: Getty Images.

Source Fool.com

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