On Monday, rumors came out that CVS had walked away from a deal to buy CANO health. The stock has…. not responded well. That massive drop caught my eye for a few reasons. First, just the headliner: my rule of thumb is that when a rumored deal falls through, the target company’s stock drops ~25-30%. CANO’s ~50% drop is the largest “rumored deal drop” I can remember (I’m sure there have been larger; I just can’t think of any off the top of my head).
Andrew you also called out last year that the CEO was buying shares...on margin! Something just doesn't smell right with this one IMO.