Health insurers added roughly $48 billion in market value March 3 after former vice president and Democratic presidential hopeful Joe Biden took home key victories in the Super Tuesday primaries, according to Bloomberg.
UnitedHealth Group shares had their best day in more than a decade on March 3, with stock jumping 10.7 percent. The gains came only a week after UnitedHealth stock suffered its worst day in almost nine years on the heels of Sen. Bernie Sanders', I-Vt., big victory in the Nevada Democratic caucuses. Mr. Sanders is running on a platform of "Medicare for All," which would effectively eliminate private health insurers.
Mr. Biden's wins in states like North Carolina, Texas and Arkansas added momentum to his campaign and increased his chances of becoming the Democratic presidential nominee, according to CNBC. Mr. Biden's more moderate proposals are largely seen as positive by many investors as opposed to the more progressive policies of Mr. Sanders and Sen. Elizabeth Warren, D-Mass.
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