Few stocks get this oversold this quickly, especially mega-cap names like UnitedHealth Group Inc. (NYSE: UNH). After a 45% rally from March into December, the stock has now collapsed 30%, sending it back to multi-year lows.
The bulk of this drop came on Friday when shares gapped down more than 12% following a report that the Department of Justice (DoJ) has launched a new investigation into UnitedHealth's Medicare Advantage business. The report suggested the company may have been adding questionable diagnoses to medical records to receive larger payments from the government.
