Why GoHealth Stock Plummeted Today

Shares of GoHealth (NASDAQ: GOCO) plummeted today and were down by 16% as of 12:15 p.m. EST after the company reported third-quarter earnings. The results missed expectations, in part due to accelerated vesting of equity awards.

Revenue in the third quarter came in at $163.4 million, which was shy of the $169.5 million that analysts were expecting. That resulted in a net loss of $206.5 million, or $0.65 per share, while the consensus estimate had called for just $0.01 per share in red ink. The bottom line result included $209.3 million in costs associated with the accelerated vesting of equity awards due to the health insurance company's recent IPO.

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Source Fool.com