Oscar (OSCR) Soars 22% in Potential ACA Extension

We recently published 10 Stocks Stealing Wall Street Spotlight. Oscar Health Inc. (NYSE:OSCR) is one of the best-performing stocks on Monday.

Oscar Health extended its gains for a second day on Monday, jumping 22.33 percent to close at $16.49 apiece as investors took heart from reports that President Donald Trump would implement an extension of the Affordable Care Act (ACA) for another two years.

According to news outlets, Trump was mulling over an extension to the December deadline, but he would cap the eligibility of individuals with income up to 700 percent of the federal poverty line.

Oscar (OSCR) Soars 22% in Potential ACA Extension

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The news sparked rosy prospects for listed insurers, including Oscar Health Inc. (NYSE:OSCR), as it could support stability and help insurance companies maintain lower ACA offerings to customers.

Without the ACA, insurance premiums for some 22 million Americans are expected to more than double by early next year.

In other news, Oscar Health Inc. (NYSE:OSCR) announced the results of its earnings performance in the third quarter of the year, where it widened its net loss attributable to shareholders by 152 percent to $137 million from $54.60 million in the same period last year.

Revenues, on the other hand, increased by 23 percent to $2.98 billion from $2.42 billion year-on-year, on the back of higher membership.

While we acknowledge the risk and potential of OSCR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OSCR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.