• Latest
  • Trending
  • All
  • News
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech
Clover Health stock drops on allegations it’s facing DOJ probe

Clover Health stock drops on allegations it’s facing DOJ probe

February 5, 2021
Xiaomi launches Redmi Note 10 series

Xiaomi launches Redmi Note 10 series

March 6, 2021
Whatsapp rolls out audio and video calling on desktop

Whatsapp rolls out audio and video calling on desktop

March 5, 2021
Nigerian Schoolgirls Released After Armed Kidnapping

Nigerian Schoolgirls Released After Armed Kidnapping

March 2, 2021
How NYC eateries are enticing staff to get the COVID-19 vaccine

How NYC eateries are enticing staff to get the COVID-19 vaccine

March 2, 2021
Joy Behar Says If Trump Runs For President In 2024, It Will Be From Rikers Island Prison

Joy Behar Says If Trump Runs For President In 2024, It Will Be From Rikers Island Prison

March 2, 2021
The meaning behind ‘New Amsterdam’ co-star Tyler Labine’s tattoos

The meaning behind ‘New Amsterdam’ co-star Tyler Labine’s tattoos

March 2, 2021
Hong Kong Democracy Advocates Charged Under National Security Law

Hong Kong Democracy Advocates Charged Under National Security Law

March 1, 2021
‘Nomadland’ won the Golden Globe, but it’s not an Oscar sure thing

‘Nomadland’ won the Golden Globe, but it’s not an Oscar sure thing

March 1, 2021
How architect of Brooklyn’s One Willoughby Square became anchor tenant

How architect of Brooklyn’s One Willoughby Square became anchor tenant

March 1, 2021
Report On Khashoggi Killing Prompts Calls For Penalties Against Crown Prince

Report On Khashoggi Killing Prompts Calls For Penalties Against Crown Prince

February 28, 2021
‘WandaVison’ overtakes ‘Bridgerton’ in audience viewership

‘WandaVison’ overtakes ‘Bridgerton’ in audience viewership

February 28, 2021
Karl Rove Reveals Why He’s ‘Looking Forward’ To Beto Running For Texas Governor – ‘Nothing Succeeds Like Failure For Him’

Karl Rove Reveals Why He’s ‘Looking Forward’ To Beto Running For Texas Governor – ‘Nothing Succeeds Like Failure For Him’

February 28, 2021
  • About Us
  • Contact
  • Team Members
  • Cookie Policy
  • Editorial Policy
  • Privacy Policy
Saturday, March 6, 2021
  • Login
Jax Daily
  • Home
    • Home – Layout 1
  • News
    Nigerian Schoolgirls Released After Armed Kidnapping

    Nigerian Schoolgirls Released After Armed Kidnapping

    Hong Kong Democracy Advocates Charged Under National Security Law

    Hong Kong Democracy Advocates Charged Under National Security Law

    Report On Khashoggi Killing Prompts Calls For Penalties Against Crown Prince

    Report On Khashoggi Killing Prompts Calls For Penalties Against Crown Prince

    Syria Airstrikes Resurface Lawmakers’ Questions Over Presidential Authority

    Syria Airstrikes Resurface Lawmakers’ Questions Over Presidential Authority

    Climate Change, Deforestation Threaten Monarch Butterfly Migration

    Climate Change, Deforestation Threaten Monarch Butterfly Migration

    Prior Tenants Alert Current Tenants To Illegal Rent Raises On Prince Edward Island

    Prior Tenants Alert Current Tenants To Illegal Rent Raises On Prince Edward Island

    Do ‘Tight’ Cultures Fare Better In The Pandemic Than ‘Loose’ Cultures?

    Do ‘Tight’ Cultures Fare Better In The Pandemic Than ‘Loose’ Cultures?

    Wife Of ‘El Chapo’ Arrested In U.S. On Drug Charges

    Wife Of ‘El Chapo’ Arrested In U.S. On Drug Charges

    Iran, U.N. Regulators Agree On Reduced — But Continued — Nuclear Verification

    Iran, U.N. Regulators Agree On Reduced — But Continued — Nuclear Verification

    Pope Francis Accepts Resignation Of Conservative African Cardinal

    Pope Francis Accepts Resignation Of Conservative African Cardinal

    Trending Tags

    • Donald Trump
    • Future of News
    • Climate Change
    • Market Stories
    • Election Results
    • Flat Earth
  • Tech
    Xiaomi launches Redmi Note 10 series

    Xiaomi launches Redmi Note 10 series

    Whatsapp rolls out audio and video calling on desktop

    Whatsapp rolls out audio and video calling on desktop

    Bidbrain: Next-Generation AI-based Bidding Platform for Traffic Acquisition & Bid-Optimization for Google Shopping Ads

    Bidbrain: Next-Generation AI-based Bidding Platform for Traffic Acquisition & Bid-Optimization for Google Shopping Ads

    Apple to bring 217 new emojis in iOS 14.5 update

    Apple to bring 217 new emojis in iOS 14.5 update

    Here’s how Microsoft’s xCloud looks on the web

    Here’s how Microsoft’s xCloud looks on the web

    Carl Pei’s Nothing acquires Andy Rubin’s Essential

    Carl Pei’s Nothing acquires Andy Rubin’s Essential

    Jeff Bezos is stepping down as CEO of Amazon after 27 years

    Jeff Bezos is stepping down as CEO of Amazon after 27 years

    Samsung S21 series is here and we’ve got everything you need to know

    Samsung S21 series is here and we’ve got everything you need to know

    Year in review; Top tech news from the turbulent 2020

    Year in review; Top tech news from the turbulent 2020

    Can domain names impact SEO and sales?

    Can domain names impact SEO and sales?

    Trending Tags

    • Flat Earth
    • Sillicon Valley
    • Mr. Robot
    • MotoGP 2017
    • Golden Globes
    • Future of News
  • Entertainment
    • All
    • Gaming
    The meaning behind ‘New Amsterdam’ co-star Tyler Labine’s tattoos

    The meaning behind ‘New Amsterdam’ co-star Tyler Labine’s tattoos

    ‘Nomadland’ won the Golden Globe, but it’s not an Oscar sure thing

    ‘Nomadland’ won the Golden Globe, but it’s not an Oscar sure thing

    ‘WandaVison’ overtakes ‘Bridgerton’ in audience viewership

    ‘WandaVison’ overtakes ‘Bridgerton’ in audience viewership

    Lady Gaga’s French bulldogs recovered safely: LAPD

    Lady Gaga’s French bulldogs recovered safely: LAPD

    Senior citizen ‘Granfluencers’ are making it rain on Instagram

    Senior citizen ‘Granfluencers’ are making it rain on Instagram

    ‘Rugrats’ revival to include original voice actors

    ‘Rugrats’ revival to include original voice actors

    Harry Shearer will no longer voice black ‘Simpsons’ character

    Harry Shearer will no longer voice black ‘Simpsons’ character

    California mom says she’s bullied by fellow parents for selling sexy snaps on OnlyFans

    California mom says she’s bullied by fellow parents for selling sexy snaps on OnlyFans

    Oliver Stark says this ‘911’ scene was the most ‘chaotic’

    Oliver Stark says this ‘911’ scene was the most ‘chaotic’

    Taylor Swift’s re-recorded albums eligible for Grammys, prompting ‘greed’ criticism

    Taylor Swift’s re-recorded albums eligible for Grammys, prompting ‘greed’ criticism

  • Lifestyle
    • All
    • Health
    Ways to Build stronger friendships

    Ways to Build stronger friendships

    A Guide To Fishing With A Bow

    A Guide To Fishing With A Bow

    What are the Simple Ways to Improve Your Lifestyle and Smile?

    What are the Simple Ways to Improve Your Lifestyle and Smile?

    5 Thoughtful Gifts for Every Type Of Brother

    5 Thoughtful Gifts for Every Type Of Brother

    Top 6 Gifts Which Are Perfect for A Newlywed Bride

    Top 6 Gifts Which Are Perfect for A Newlywed Bride

    How to Increase Breast Size Naturally At Home

    How to Increase Breast Size Naturally At Home

    Don’t Let An Unjust World Bring You Down

    Don’t Let An Unjust World Bring You Down

    How Can You Take Care Of Your Family Even From A Distance?

    How Can You Take Care Of Your Family Even From A Distance?

    How to Choose the Best Flooring for Your Business

    How to Choose the Best Flooring for Your Business

    Limit Screen Time – How to Take Care of Your Child’s Vision During Online Classes

    Limit Screen Time – How to Take Care of Your Child’s Vision During Online Classes

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Politics
    Joy Behar Says If Trump Runs For President In 2024, It Will Be From Rikers Island Prison

    Joy Behar Says If Trump Runs For President In 2024, It Will Be From Rikers Island Prison

    Karl Rove Reveals Why He’s ‘Looking Forward’ To Beto Running For Texas Governor – ‘Nothing Succeeds Like Failure For Him’

    Karl Rove Reveals Why He’s ‘Looking Forward’ To Beto Running For Texas Governor – ‘Nothing Succeeds Like Failure For Him’

    Joe Scarborough Slams GOP As ‘Sick’ And ‘Gutless’ For Still Supporting Trump

    Joe Scarborough Slams GOP As ‘Sick’ And ‘Gutless’ For Still Supporting Trump

    Democrats Renew Push To End The Filibuster In An Effort To Pass Massive Minimum Wage Hike

    Democrats Renew Push To End The Filibuster In An Effort To Pass Massive Minimum Wage Hike

    Liz Cheney Faces New Calls To Step Down After Latest Bizarre Anti-Trump Attack

    Liz Cheney Faces New Calls To Step Down After Latest Bizarre Anti-Trump Attack

    Democrats Try To Pressure TV Providers To Take Fox News Off The Air

    Democrats Try To Pressure TV Providers To Take Fox News Off The Air

    Biden Scraps Trump-Era Citizenship Test

    Biden Scraps Trump-Era Citizenship Test

    U.S. Women’s Soccer Team No Longer Kneels For National Anthem – What Changed?

    U.S. Women’s Soccer Team No Longer Kneels For National Anthem – What Changed?

    GOP Rep. Tenney Rips Cuomo For Nursing Home Scanal – ‘This Is Vintage Cuomo’

    GOP Rep. Tenney Rips Cuomo For Nursing Home Scanal – ‘This Is Vintage Cuomo’

    AOC Turns On Cuomo – Calls For Investigation Into His Nursing Home Scandal

    AOC Turns On Cuomo – Calls For Investigation Into His Nursing Home Scandal

    Trending Tags

    • Mr. Robot
    • Flat Earth
    • Sillicon Valley
  • Business
    How NYC eateries are enticing staff to get the COVID-19 vaccine

    How NYC eateries are enticing staff to get the COVID-19 vaccine

    How architect of Brooklyn’s One Willoughby Square became anchor tenant

    How architect of Brooklyn’s One Willoughby Square became anchor tenant

    Nevada Gov. Steve Sisolak wants to build crypto-run private cities in the desert

    Nevada Gov. Steve Sisolak wants to build crypto-run private cities in the desert

    United Airlines to pay $49.5M to settle international mail contract probe

    DirecTV to become standalone company through $16B AT&T, TPG deal

    DirecTV to become standalone company through $16B AT&T, TPG deal

    A new breed of firms vie for stake in NBA teams

    A new breed of firms vie for stake in NBA teams

    Michael Bolton invites Robinhood users to break up with their app

    Michael Bolton invites Robinhood users to break up with their app

    Phil Falcone mansions head to foreclosure auction amid money woes

    Phil Falcone mansions head to foreclosure auction amid money woes

    Despite bleak real-estate market, signs of hope are building

    Despite bleak real-estate market, signs of hope are building

    The Secret Behind TheInvestmentPrince’s Rapid Growth

    The Secret Behind TheInvestmentPrince’s Rapid Growth

    Trending Tags

  • Interviews
    Interview with Simon Tillyer, Director at Tenant Referencing Platform: Vouch

    Interview with Simon Tillyer, Director at Tenant Referencing Platform: Vouch

    Interview with Suzanne Wylde, Creator of Suzanne Wylde Coaching

    Interview with Suzanne Wylde, Creator of Suzanne Wylde Coaching

    Interview with Tex Dworkin, Co-Founder of Raddle

    Interview with Tex Dworkin, Co-Founder of Raddle

    Interview with Ram Krishnna Rao, CEO of MarketOrders

    Interview with Ram Krishnna Rao, CEO of MarketOrders

    Interview with Priscila Martinez, Founder of The Brand Agency

    Interview with Priscila Martinez, Founder of The Brand Agency

    Interview with Brianna Parks, Owner of Brianna Parks Photography

    Interview with Brianna Parks, Owner of Brianna Parks Photography

    Interview with Stan Pavlovsky, CEO at Shutterstock

    Interview with Stan Pavlovsky, CEO at Shutterstock

    Interview with Austin Woodward, the CEO of Taxbit

    Interview with Austin Woodward, the CEO of Taxbit

    Interview with Dan Murray-Serter, Co-founder and CEO at Heights

    Interview with Dan Murray-Serter, Co-founder and CEO at Heights

    Interview with Emily Smith, Founder of Chorus

    Interview with Emily Smith, Founder of Chorus

    Trending Tags

    No Result
    View All Result
    Jax Daily
    No Result
    View All Result
    Home Business

    Clover Health stock drops on allegations it’s facing DOJ probe

    by Avery Cooper
    February 5, 2021
    in Business
    0
    Clover Health stock drops on allegations it’s facing DOJ probe
    494
    SHARES
    1.4k
    VIEWS
    Share on FacebookShare on Twitter

    The King of SPACs is under fire from a short-seller gunning for a crown of his own.

    Shares in Clover Health were down more than 12 percent on Thursday after an excoriating report from an up-and-coming short seller that raised serious questions about billionaire Chamath Palihapitiya’s deal to take the online health insurance company public, including claims that Clover has failed to let investors know that it’s under investigation by the Department of Justice.

    The explosive report by Hindenburg Research goes after numerous aspects of Clover’s business model, which involves selling and managing Medicare insurance in “low-income and often overlooked communities.”

    Hindenburg calls the veracity of that model into question and claims that the DOJ is currently investigating a dozen issues involving Clover, including potential kickbacks.

    “This Civil Investigative Demand and the corresponding investigation present a potential existential risk for a company that derives almost all of its revenue from Medicare,” reads Hindenburg’s report. “Our research indicates that the investigation has merit.

    Clover declined to comment except to say it planned to issue a statement “to address the claims presented by Hindenburg.” No statement was provided as of press time.

    The report is the latest in a string of eyebrow-raising reports by Hindenburg and its founder Nate Anderson, the most notable being its expose of electric carmaker Nikola in September, which led to the electric vehicle maker’s founder stepping down from his role as executive chairman.

    The DOJ did not respond to a request for comment.

    The timing of Clover’s alleged legal problems, which were not confirmed by The Post, is also of interest to Hindenburg as the firm claims that Palihapitiya either hid the investigations from his investors or failed to do proper due diligence when taking the company public via a $3.7 billion deal with his SPAC in January.

    A representative for Palihapitiya did not respond to a request for comment.

    The billionaire investor has become the face of SPAC deals in the last few months, launching five in just over a year. And he made a hefty profit already on Clover’s listing, paying $25,000 to invest in what has become a $290 million stake.

    “Given that investors are paying over a quarter billion dollars for Chamath’s due diligence,” Hindenberg said, “we think they deserve to know whether Chamath knew of these issues and concealed them, or whether he simply failed to notice them at all.”

    The “Reddit rally” has put short-sellers in the hot seat with notable names like Citron Research founder Andrew Left announcing on Friday that his company would no longer publish short reports. But Anderson, who says he has no position in Clover stock, defended his right to question companies on Thursday.

    “Short sellers have exposed almost every major market fraud in the past several decades, yet there have been recent questions about whether short-sellers and critical researchers play an important role in a healthy, functioning market,” he writes. “We hope our research today serves as a timely reminder that they do.”

    Tags: Business
    Share198Tweet124Share49
    Avery Cooper

    Avery Cooper

    • Trending
    • Comments
    • Latest
    Greta Thunberg Ominously Claims AOC’s Green New Deal Is ‘Very Far From Being Enough’

    Greta Thunberg Ominously Claims AOC’s Green New Deal Is ‘Very Far From Being Enough’

    January 24, 2021
    f

    “Superman Syndrome”, The Case Of A 10-year-old Vietnamese Boy

    January 6, 2021
    Can domain names impact SEO and sales?

    Can domain names impact SEO and sales?

    January 6, 2021
    Xiaomi launches Redmi Note 10 series

    Xiaomi launches Redmi Note 10 series

    0
    uy

    Bahrain Joins Emirates And Will Establish Diplomatic Relations With Israel

    0
    Interview with Laurent Martinot, CEO of Sunrise | Sleep Apnea Testing at Home

    Interview with Laurent Martinot, CEO of Sunrise | Sleep Apnea Testing at Home

    0
    Xiaomi launches Redmi Note 10 series

    Xiaomi launches Redmi Note 10 series

    March 6, 2021
    Whatsapp rolls out audio and video calling on desktop

    Whatsapp rolls out audio and video calling on desktop

    March 5, 2021
    Nigerian Schoolgirls Released After Armed Kidnapping

    Nigerian Schoolgirls Released After Armed Kidnapping

    March 2, 2021

    Copyright © 2021 JaxDaily.

    • About Us
    • Contact
    • Team Members
    • Cookie Policy
    • Editorial Policy
    • Privacy Policy

    No Result
    View All Result
    • Home
    • News
      • Politics
    • Entertainment
    • Tech
    • Lifestyle
      • Health

    Copyright © 2021 JaxDaily.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms below to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In