The Securities and Exchange Commission 22 years ago changed the expression of stock prices from fractions to decimals that go out to hundredths of a cent.
Such minutiae, unfortunately, recently turned out to be helpful for investors in Bright Health Group, the Bloomington-based health insurance company. With its shares now trading around 20 cents, some days are measured in those decimals.
In June 2021, Bright Health undertook the biggest IPO in Minnesota history, raising nearly $1 billion on the premise that its technology gave it a price advantage in the market for individual health insurance, commonly sold through state-run exchanges.
