“Magellan Health Down Nearly 40%, in a Year: What’s Next?”
March 12, 2019
“During fourth quarter results, the company reported an operating loss of 77 cents per share missing the Zacks Consensus Estimate of $1.42 per share. In the year ago quarter, the company reported earnings of $2.55 per share. Revenues of $1.84 billion also missed the Zacks Consensus Estimate of $1.89 billion.
Segment profit of $16 million declined 84% year over year, as it was negatively impacted by $50 million of period and non-recurring items…
The stock has witnessed a downward revision in 2019 and 2020 earnings estimate by 5% and 7.8% respectively, over the past 30 days.
Shares of the company have declined 40% in a year’s time against the iindustry’s growth of 7.8%…
However, the company anticipates total revenues to be in the band of $7.2-$7.5 billion for 2019, which reflects year-over-year growth of 0.5% ..”
https://finance.yahoo.com/news/magellan-health-down-nearly-40-141202269.html
This seems like a good stock to short. Unfortunately I don’t know how to short stock. I think know the general idea but I don’t know exactly how to do it. From what I’ve gathered shorting stock consist of borrowing stock, selling the borrowed stock, buying it at a lower price, then returning the stock to the owner. The profit needs to be higher than the fee for borrowing the stock.
If this information is incorrect someone please correct me in the comments.