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Is Now The Time to Go All-in on Clover Health Stock?

·3 min read
Is Now The Time to Go All-in on Clover Health Stock?

Shares of Medicare Advantage health insurance company Clover Health Investments (NASDAQ: CLOV) are up over 98% in just one month, thanks to as part of a short squeeze led by enthusiastic traders of the r/WallStreetBets subReddit. On June 22, Chamath Palihapitiya, the billionaire venture capitalist behind Clover Health, publicly acknowledged that the company was the target of a short squeeze and that investors could "lose a significant portion of their investment" by buying at this time. In Q1 2021, Clover grew its revenue by 21% year over year to $200.3 million as its membership count increased by 18% over the same period to 66,300.