Clover Health Investments Corp.

Launched in San Francisco in 2015, Clover Health claims to use a ‘data-drive approach’ to make Medicare more affordable for seniors on low incomes. Medicare is a scheme by the US government first launched in the 1960s to expand health insurance coverage to all over 65. The company takes detailed information from traditional health insurance providers and aims to reduce medical costs by offering a premium (Medical Advantage) that covers doctor visits and drug costs.

Despite its laudable aim, the firm is dogged by controversy and accusations of serious wrongdoing. Co-founder and CEO Vivek Garipalli previously owned a string of hospitals in New Jersey, which were criticized for charging excessive fees for emergency room visits. Garipalli was later accused of siphoning off over $150 million from these hospitals by transferring profits into management companies, which unlike hospitals have no obligation to reinvest profits. These charges were made in a 2019 State Commission investigation. Another serious allegation is that Clover Health bribes doctors to use its services, a claim denied by Garipalli.

Clover Health was formerly known as Social Capital Hedosophia Holdings Corp III. Led by venture capitalist Chamath Palihapitiya, the company was taken public by a Special Purpose Acquisition Company (SPAC) in 2021. A SPAC differs from a normal IPO in that a holding company is launched with the sole purpose of taking over another business, in this case Clover Health. The new shares lost half of their value in a few months, before becoming the target of speculation of social media and spiking dramatically in June 2021. Clover Health remains unprofitable.

Some analysts have been harshly critical of the opacity of the SPAC IPO and Clover Health more generally, particularly when it was revealed they had not disclosed a Department of Justice investigation into the firm’s practices. As of 2021, Clover Health has a market capitalization of $2.41 billion. CEO Vivek Garipalli is the largest shareholder with around 20% of shares, and the stock is popular among retail investors. Institutional investors (excluding venture capitalists) hold just 10% of total shares.

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Frequently asked questions about Clover Health Investments Corp.

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A live price for Clover Health shares is visible on your account, simply log in and search for Clover Health. Then, select the trade ticket, click on the ‘I’ icon and then navigate to ‘Trading Rates’ to see transaction costs. New customers of Saxo can click here to open an account now.

On our platforms we offer plenty of different financial information to help you decide if Clover Health is the right investment for you. You will find stock analysis, financial reports, and current and historical price charts on your account. You can open an account here.

Clover Health does not pay a dividend to investors. Companies in the technology space often prefer to redirect profits back into the company for growth and expansion.

You can check how Clover Health shares have performed in the past by logging in to your trading platform account to see price charts and historical financial data. If you don’t have an account with Saxo, you can open one by clicking here.

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