Why sudden drop in Express scripts(ESRX)?
by aswadhama | April 25, 2017 11:48 am
Any idea why it dropped so much today? Is it another buying opportunity or anything wrong with the company? Thanks.
Source URL: https://www.stockgumshoe.com/2017/04/microblog-why-sudden-drop-in-express-scriptsesrx/
Thought that would be al over the biz channels by now. On CNBC yesterday after ESRX reported, the CEO was on defending the Company. Anthem, ESRX biggest client is dropping them. Anthem is stating they have been over charging them by millions and it was ESRX biggest client. More to come on that.
ESRX has been under pressure for a while — I mentioned it briefly as a short idea after the Grant’s Conference a couple months ago, the rationale is that the business essentially is a commodity and it was clear that they were charging more than the other major players in the space with no justifiable reason for charging more.