Traders Flee These 10 Stocks Today

3. UnitedHealth Group Inc. (NYSE:UNH)

UnitedHealth fell for the eighth straight day on Thursday, tumbling 10.93 percent to close at $274.35 apiece as investor sentiment was dampened by reports that it is being investigated over alleged fraudulent activities in its Medicare payouts.

On Thursday, the Wall Street Journal reported that the Department of Justice (DOJ) is investigating UnitedHealth Group Inc. (NYSE:UNH) over its Medicare billing practices.

According to the report, the investigation has been ongoing since the middle of 2024 to look into whether the company fraudulently inflated patient diagnoses to rake in higher payouts from Medicare.

Meanwhile, UnitedHealth Group Inc. (NYSE:UNH) called the report “deeply irresponsible, as even it admits that the ‘exact nature of the potential criminal allegations is unclear.’”

It said that it had not been formally notified of any criminal investigation but said that it “stands by the integrity of [its] Medicare Advantage program.”