AI
| Followers | 689 |
| Posts | 143817 |
| Boards Moderated | 35 |
| Alias Born | 03/10/2004 |
Wednesday, March 03, 2021 1:22:05 PM
Insurer Oscar Health (OSCR) Falls in First Day of Trading
By: TheStreet | March 3, 2021
• Oscar Health shares dropped in their first day of trading. The insurer on Tuesday night had raised the size of its IPO.
Shares of Oscar Health (OSCR) dropped in Wednesday trading, having debuted at $36 a share, which was below the company's revised expectations.
On Tuesday night, Oscar Health priced its IPO at $39 to raise $1.4 billion. The move lifted its pricing for the second time since it unveiled plans to go public.
Shares of Oscar Health at last check were down 9.3% at $35.37..
Oscar Health gets the majority of its revenue from selling insurance plans in the marketplace that was set up by the Affordable Care Act.
On Tuesday, Oscar Health said it expected to sell 30.35 million Class A common shares at $36 to $38 each. That was up from a previous estimate between $32 and $34 a share.
Oscar Health had 529,000 members as of January 2021. It generated direct policy premiums of $2.3 billion in 2020 across 18 states.
The company reported annual revenue of $1.67 billion for 2020 and $1.04 billion for 2019. It posted losses of $407 million and $261 million for those two years, respectively.
Joshua Kushner, the brother of former Trump administration adviser Jared Kushner, has 75% control of Oscar Health through his Thrive Capital venture firm.
The company has raised about $1.6 billion in private funding from companies including Google parent Alphabet (GOOGL), Khosla Ventures, General Catalyst and others.
Oscar, which was founded in 2012, currently sells health plans in three markets -- individual, small group and Medicare Advantage -- which serve a total of more than 50 million Americans and represent an opportunity of $450 billion in direct policy premiums.
Read Full Story »»»
DiscoverGold
By: TheStreet | March 3, 2021
• Oscar Health shares dropped in their first day of trading. The insurer on Tuesday night had raised the size of its IPO.
Shares of Oscar Health (OSCR) dropped in Wednesday trading, having debuted at $36 a share, which was below the company's revised expectations.
On Tuesday night, Oscar Health priced its IPO at $39 to raise $1.4 billion. The move lifted its pricing for the second time since it unveiled plans to go public.
Shares of Oscar Health at last check were down 9.3% at $35.37..
Oscar Health gets the majority of its revenue from selling insurance plans in the marketplace that was set up by the Affordable Care Act.
On Tuesday, Oscar Health said it expected to sell 30.35 million Class A common shares at $36 to $38 each. That was up from a previous estimate between $32 and $34 a share.
Oscar Health had 529,000 members as of January 2021. It generated direct policy premiums of $2.3 billion in 2020 across 18 states.
The company reported annual revenue of $1.67 billion for 2020 and $1.04 billion for 2019. It posted losses of $407 million and $261 million for those two years, respectively.
Joshua Kushner, the brother of former Trump administration adviser Jared Kushner, has 75% control of Oscar Health through his Thrive Capital venture firm.
The company has raised about $1.6 billion in private funding from companies including Google parent Alphabet (GOOGL), Khosla Ventures, General Catalyst and others.
Oscar, which was founded in 2012, currently sells health plans in three markets -- individual, small group and Medicare Advantage -- which serve a total of more than 50 million Americans and represent an opportunity of $450 billion in direct policy premiums.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
