Healthcare stocks that benefitted from Obamacare spike after ‘Trumpcare’ vote gets pulled

Shares of some healthcare providers that have benefitted from the Affordable Care Act jumped on Friday after the GOP pulled a vote in Congress on its replacement.

The move was made after a one-day postponement as it became clear that there would not be enough votes to pass the bill that would repeal and replace Obamacare.

HCA Holdings finished the trading session up 3%, gaining sharply right after news reports of the canceled vote crossed around 3:30 p:

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Investing.com

Tenet Healthcare, which runs over 450 outpatient facilities, also jumped:

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Investing.com

So did Centene:

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Investing.com

Universal Health Services, which manages hospitals and clinics, also rallied:

source
Investing.com

All these stocks sold off sharply after President Donald Trump was elected in November.

The main indexes also spiked after Republican congressional leaders pulled the vote. The S&P 500 ultimately settled little changed, down 0.06%.