Clover Health Stock Surges Over 29% On High Volume: Recap

Clover Health Investments, Corp. CLOV shares are trading higher Wednesday amid increased trading volume and gaining traction across social media platforms.

Here’s what you need to know.

Counterpart Health Agreement with The Iowa Clinic: Last month, Clover Health’s subsidiary, Counterpart Health, announced a multi-year agreement with The Iowa Clinic. Clinicians serving The Iowa Clinic's Medicare Advantage and Medicare Shared Savings Program patients will utilize Counterpart Assistant, an AI-driven solution designed to integrate into physicians' workflows and facilitate the early diagnosis and management of chronic diseases.

The technology will also be available to The Iowa Clinic's clinically integrated network partners throughout the Midwest. Counterpart Health will receive a per-member, per-month fee and possible incentive payments tied to meeting specific care management objectives.

Ben Vallier, CEO of The Iowa Clinic, praised Counterpart's ability to harness clinical data for improved outcomes and its intuitive design tailored to clinicians’ needs.

Appointment of New COO: Clover Health also announced Joseph Brand as the new chief operating officer for its Medicare Advantage operations. Brand brings nearly 20 years of healthcare leadership experience, most recently serving as COO at Jefferson Health Plans. His focus will be on improving health care delivery in New Jersey through operational efficiencies and technological innovation.

What Else: Clover Health’s short interest has decreased by 9.75% since the last report, with 29.36 million shares shorted, representing 7.31% of the float. Traders on social media platforms, particularly Reddit's r/WallStreetBets, have been actively discussing Clover Health.

CLOV Price Action: Clover Health shares were up by 29.14% at $3.59 at publication Wednesday, according to Benzinga Pro.

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Photo By CloverHealth Inc.