UnitedHealth Down $43b in One Day

I guess insiders selling was a good move?

It’s been a hard day if you are a shareholder of UnitedHealth Group. It committed the cardinal sin of capital markets by…missing expectations. It so colossally missed expectations that it lost the entire valuation of Coinbase or Ford in a single day.

As I have previously reported, United’s leadership has…chosen to cash in some stock before this catastrophic quarter, as I wrote a satirical piece about here. This was before the issues with DOJ were announced. And all of this is after the very bad change healthcare cyber attack, which was at least expected to impact earnings. This is all very bad. Or, as CEO Andrew Witty puts it, very good:

“Our continued growth, which positions us well for the coming years, is rooted in the innovative products and responsive service of our people that are embraced each day across the full range of health care participants,” said Andrew Witty, chief executive officer of UnitedHealth Group.

Innovative products include offshoring employees, firing thous…