Enphase Energy (ENPH) lost 5.16% on Monday, falling the most among the S&P 500 (IVV) constituents. The firm reported nothing new. Investors are likely selling solar energy-related firms to avoid further losses.
In that sector, First Solar (FSLR) traded at around $300 in June but closed at $205.36. SolarEdge (SEDG) will likely trade below $15.00 as bears build a 33.19% short interest. Array Technologies (ARRY) is also out of favor, especially after SunPower filed for Chapter 11 bankruptcy last month.
Humana (HU) broke down below the $350 support line yesterday. HUM stock lost $14.10 to close at $343.76. The White House announced new health insurance requirements. To enhance access to mental health services, health plans need to evaluate their provider networks, charges, and frequency of prior authorizations.
Investors seeking exposure to the health plan sector may consider United Health (UNH), Cigna (CI), Centene (CNC), and Elevance (ELV).
CVS Health (CVS) is an especially compelling investment. The stock is trading in a range of between $55 and $60.00. Its price-to-earnings ratio is 10 times. Although CVS’s drug stores face competitive pressures from Rite Aid and Walgreens Boots (WBA), Aetna may potentially grow.
In the second quarter, CVS said it would cut $2 billion in costs over the next few years.
