May 15, 2025 - Business
UnitedHealth shares plunge after probe report
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Shares in UnitedHealth Group plunged on Thursday, their eighth straight day of declines, after a Wall Street Journal report on a purported criminal probe into alleged Medicare fraud.
Why it matters: The stock, a major Dow component, has now lost more than half its value since last December, when a key executive was shot and killed in broad daylight in New York City.
- Since then the company has been under public pressure amid broader questions about the insurance industry, and this week its CEO stepped down abruptly.
By the numbers: UnitedHealth shares were down $56, or 18%, at $252 in mid-morning trade Thursday.
- The stock traded north of $600 last December, before insurance unit leader Brian Thompson's killing in NYC.
Catch up quick: Late Wednesday, the Wall Street Journal reported the company was under criminal investigation for possible Medicare fraud.
- UnitedHealth issued a statement calling the report "deeply irresponsible" and saying it had not been notified of the purported investigation.
