Centene (CNC) Relies The Most On Subsidies, Says Jim Cramer

Core Insights - Centene Corporation (NYSE:CNC) is heavily reliant on healthcare subsidies, which has raised concerns about its investment viability [2][3] - The stock experienced a significant decline of 8.8% recently, following a broader market downturn led by other healthcare firms [2] - In July, Centene withdrew its full-year guidance, resulting in a record single-day stock drop of over 40%, prompting negative sentiment towards the managed care sector [2] Company Overview - Centene Corporation is one of the largest healthcare benefits management companies in the United States [2] - The company has been highlighted in discussions regarding the necessity of healthcare subsidies for its operations [2] Market Context - The healthcare sector, particularly managed care companies, has faced challenges, with Centene being a notable example of a company struggling in the current market environment [2] - Jim Cramer has indicated that while the sector may not be entirely uninvestable, the reliance on subsidies poses significant risks [2]