Trump boasts about 'plunging' insurance stocks after his decision to stop subsidy payments

The Trump administration recently made a decision to end subsidy payments worth billions to health insurance companies.

In a tweet on Saturday, President Trump seemed to boast about the impact of that move on the stock prices of those companies.

“Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!” Trump wrote

Trump echoed similar thoughts on Friday, when he told reporters, “as far as the subsidy is concerned, I don’t want to make the insurance companies rich.”

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“If you look at their stock price over the last number of years, take a look at what’s happened with those insurance companies. They’re making a fortune by getting that kind of money,” the president added.

According to CNBC, shares of many health insurers and hospital operators did fall in the range of 3-5 percent on Friday.

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