Meme Stock Crash: 5 Worst-Performing Stocks of Reddit’s WallStreetBets

2. Clover Health Investments, Corp. (NASDAQ: CLOV)

Number of Hedge Fund Holders: 23
Monthly Decline: 31%   

Clover Health Investments, Corp. (NASDAQ: CLOV) stock has plunged by 51% over the course of the past six months. It is placed second on our list of 10 worst-performing stocks of Reddit’s WallStreetBets. The firm operates as a medical care insurer. The company recently lowered guidance estimates. The share price of the firm has been falling as a meme stock crash continues. Investment advisory Bank of America had downgraded the stock to Underperform from Neutral last month. 

On July 12, investment advisory JP Morgan also downgraded Clover Health Investments, Corp. (NASDAQ: CLOV) stock to Underweight from Neutral. The price target on the firm was also reduced from $15 to $9 and guidance metrics reduced. 

Out of the hedge funds being tracked by Insider Monkey, San Francisco-based investment firm Greenoaks Capital is a leading shareholder in Clover Health Investments, Corp. (NASDAQ: CLOV) with 96.3 million shares worth more than $728 million.