Alignment Healthcare Shares Fall After Whistleblower Suit Challenges Profit Story

Alignment Healthcare shares surged on Tuesday, closing 25.1% higher at $19.20, after investors parsed the Medicare Advantage company’s presentation at Goldman Sachs’ global healthcare conference and recent operating updates. The stock traded as high as $19.62 after opening at $15.24, with volume topping 16 million shares.

Alignment Healthcare, Inc. shares rose about 3.4% to $19.90 in mid-afternoon trading on Wednesday, after earlier touching $19.93 as the stock fluctuated between $18.83 and $19.93.