- UnitedHealthcare CEO Brian Thompson’s killer remains at large.
- Police have discovered words written on bullet casings at the scene.
- Social media portrays a large segment of the public with disdain toward UnitedHealth.
- UNH shares fell below $586, more than 4%, on Thursday after rising on Wednesday.
UnitedHealth Group (UNH) Stock are trending lower on Thursday, a day after the nation was shocked by news that the CEO of its largest insurance unit was murdered outside an investor event in Manhattan on Wednesday. UNH’s stock price rose 0.9% on Wednesday, but is down more than 4% as of Thursday morning.
The Dow Jones Industrial Average (DJIA) is down 0.3% as UNH is its largest holding, while the NASDAQ and S&P 500 have barely moved.
UnitedHealth Stock News
UnitedHealthcare CEO Brian Thompson was murdered around 15 minutes before 7:00AM EST outside the Hilton Midtown Hotel in Midtown Manhattan on Wednesday. New York City police believe the unidentified shooter was waiting for Thompson as several people walked by before the shooter pointed a gun at Thompson, striking him in the back and leg.
“This was a premeditated, planned and targeted attack,” NYPD Commissioner Jessica Tisch told reporters.
Police also identified several items that could have belonged to the shooter, saying they are being analyzed for DNA.
The shooter fled after the murder, riding a bicycle north on 6th Avenue and then escaping through Central Park. Police have released closed-circuit images of the individual, who was wearing a winter mask that partially obscured his face. images of the shooter in a Starbucks (SBUX) before the shooting occurred could allow police to identify the shooter using facial recognition technology. The perpetrator is believed to be a white man.
The investigation took a political turn once media outlets began reporting Thursday that several of the bullet casings found on the ground near the ambush were etched with words. The words “delay,” “deny,” “depose” and “defend” were reported by The New York Times and The Washington Post.
It would seem that the words mean strategies that health insurers use to “delay” or “deny” health coverage, but it’s hard to be sure. Some experts believe the shooter may have been enraged by the denial of health coverage to a loved one.
The tragedy could also be hurting the UnitedHealth brand. Social media has been saturated with posts mocking the serious incident. Private health insurers in the US are generally unpopular with the public since health care is the leading cause of personal bankruptcy.
Post on X.com with more than 40K likes from Wednesday, December 4
UnitedHealth Group Stock Chart
UNH stock has stopped near the 50-day SMA around $586. The bulls hope it stops there, but the Relative Strength Index (RSI) has fallen below 50, showing a lack of momentum from the buyers.
Recent price movement in October and early November found support at $550 and the 200-day SMA stands at $537. However, excitement over the upcoming start of the Trump administration should keep the market happy. Wall Street hopes the incoming administration will be good for business and more generous in terms of Medicaid and Medicare payments to insurers.
UNH Stock Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
