It’s a wacky day on Wall Street. Since Aetna’s quarterly announcement that it made a decent profit hitting expectations, the entire sector has gone a little doolally. And not all at once but over the course of the day. Look at this chart below and you’ll see that all the big health plans are up following Aetna’s lead.
And if that wasn’t crazy enough, the PBMs are doing even better. Express Scripts came in with lower revenue than expected but beat forecasts on profits. That took it through the roof today, and its now up 10% in the last week! Caremark and Medco are following. Pity I didn’t buy them all back in 2001.
One day I’ll figure this stock market thing out. But then again last night I went to see Enron: The Smartest Guys in the Room, and I don’t necessarily think that Wall Street gets it right all the time!