🔴UnitedHealth Group, one of the largest American companies and a member of the prestigious Dow Jones Industrial Average, is facing an unprecedented crisis that has led to a sharp decline in investor confidence and a collapse in its stock price.
📌The crisis reached its peak this week when CEO Andrew Witty announced his sudden resignation, citing 'personal reasons,' coinciding with the company's abandonment of its financial forecasts, justifying this by the unprecedented rise in healthcare costs.
📌The big surprise came from The Wall Street Journal, which revealed that the company is under federal criminal investigation regarding its possible involvement in fraud related to the Medicare program.
📌These developments have caused shock within investment circles, as UnitedHealth's stock has lost half of its value in just one month (equivalent to about $288 billion), and the stock price dropped on Thursday to its lowest level since April 2020, during the peak of the COVID-19 pandemic.
