WallStreetBets Redditor Says He Dropped $100K Into UnitedHealth After Selling His House Without Telling His Wife: 'Hold My Beer'

A post on Reddit’s r/WallStreetBets community is making waves after a user claimed to have made a bold, high-conviction stock play, risking not just financial ruin, but putting his marriage on the line.

What Happened: Friday early morning, a WallStreetBets user who goes by the name /u/Sensitive_Reveal_227 posted details surrounding his huge bet in the community.

He claims to have sold his house, clearing $120,000 in equity, of which he invested $100,000 into 303 shares of beleaguered health insurer, UnitedHealth Group Inc. UNH, all of which he did without informing his wife, and even outright misleading her.

“Wife said, ‘Put it somewhere safe.' I said, hold my beer,” he says, “Then funneled $100K into Fidelity and bought 303 shares of UnitedHealth.”

While this would be a red flag in any marriage, the user insists he technically didn't lie. “Told the wife the money is safe in a high-yield savings account,” he added, “Technically not wrong.”

The thesis behind his investment is pretty straightforward: America's chronic health problems aren’t going away anytime soon. “Fat, old, diabetic, stressed out… healthcare is the last thing people cut,” he says, before noting the company’s scale and robust fundamentals.

The user also highlights recent insider buying in the stock, with the CEO, CFO, and independent directors all buying millions worth of shares in the company, with their own personal money, which he views as a bullish signal.

The post concludes with a cheeky note on the user’s marital gamble, “Now I just need to convince her to stall on the purchase of our next home… Till death do us part,” he adds.

Why It Matters: UnitedHealth has found itself at the center of a perfect storm in recent months, starting with the assassination of its CEO Brian Thompson in December, which is now the subject of an investor lawsuit that alleges that the company downplayed the potential impact of this murder.

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The company’s CEO, Andrew Witty, resigned abruptly last week, further fueling uncertainty among investors, following which the current CEO, Stephen Hemsley, decided to suspend its full-year guidance.

To top it off, just a few days later, a Wall Street Journal report claimed that UnitedHealth was under criminal investigation by the U.S. Department of Justice, with a focus on the company’s Medicare Advantage business practices.

The company refuted all allegations, telling Benzinga that it has not been notified of any supposed criminal investigation by the DOJ, while calling WSJ’s reporting “deeply irresponsible.”

The stock has been on a steady decline since its disappointing first quarter results last month, down nearly 50% since then, despite a rebound this week, following news of insider buying activity.

Price Action: The stock was down 2.08% on Thursday, trading at $296.67, but is up 1.33% after hours. It is down 41.20% on a year-to-date basis.

Since we’re talking about /r/WallStreetBets, it’s worth noting that GameStop Corp. GME was up 10.02% on Thursday, due to rising Bitcoin prices, and is up 2.56% after hours.

UnitedHealth scores poorly across the board in Benzinga’s Edge Stock Rankings. Click here for deeper insights into the stock, its peers, and competitors.

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