So if you are enrolled in the Centene ESPP stock purchasing plan, our most recent purchase was done on July 7, after the stocks tanked. But it goes off of the price on June 30. Pretty convenient timing to announce something that tanks stocks right before the ESPP plan for your company uses all of your employees money to buy stock at a higher price.
8 replies (most recent on top)
@ew Easy, boss. Why don’t you take a few minutes away from your phone. A little mental health break, if you will.
The point OP is trying so hard to make is meaningless. Do you REALLY think they care about you and your ESPP purchases so much that they’d intentionally wait until after your dollars are locked in to report the restatement financial guidance?
It’s awfully bold of you to assume that losing money based on ESPP timing and the financial announcement was anything beyond a coincidence.
Leadership gains NOTHING by what you are suggesting. Nor does the stock price.
Your ESPP purchases only important to you. Period.
@d5 I think you missed the point OP was trying to make, chief. Might want to reread that again.
lol. Do you really think the ESPP really moves out stock price up or down??
It doesn’t. Not even a fractional penny.
The price dropped because institutional investors dumped hundreds of thousands of shares. If and when they buy back in, CNC will go up.
ESPP purchases are barely a blip on the radar.
Those kinds of lawsuits are initiated by firms literally all the time against all kinds of companies and almost always go nowhere. There is no reason to think this will be any different.
Plenty of class action lawsuits asking Centene shareholders to join since last week’s debacle, I’m sure they would find this very helpful to their cases
@a3 And they are still dead silent, I wonder when they will decide to address this mess knowing we are wondering what’s next.
The day employee's money saved from pay checks on the ESPP is used to buy Centene stock is June 30. Stock closes at $51 that day. They announce on June 30 (same day) that they are pulling their financial guidance. This announcement is at the end of the day on the 30th. The next day the stocks drop because of this announcement and stocks are now around $33. Surely someone had to know that they would be getting a lot of employees money that day to buy stock and wanted the higher price, even knowing that every employee who was in the program would not only lose money from their stock already bought, but also bought much higher than they could the next day, instantly losing money.