Healthcare stocks spiked Friday afternoon after Sen. John McCain, R-Ariz., announced he will not vote for the proposed Graham-Cassidy bill, Republicans' latest plan to repeal and replace the ACA.
"I cannot in good conscience vote for the Graham-Cassidy proposal," Mr. McCain said in a statement. "Nor could I support it without knowing how much it will cost, how it will affect insurance premiums, and how many people will be helped or hurt by it. Without a full CBO score, which won't be available by the end of the month, we won't have reliable answers to any of those questions.
His statement sent for-profit hospital operator stocks soaring, according to Business Insider. Shares of Dallas-based Tenet Healthcare rose 3.45 percent, Franklin, Tenn.-based Community Health Systems shares climbed 1.92 percent, Brentwood, Tenn.-based LifePoint shares rose 1.87 percent and shares of Nashville, Tenn.-based HCA Healthcare jumped 1.34 percent.
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