- A federal judge on Friday evening ruled that Obamacare’s individual mandate was unconstitutional and that the entire law should be struck down.
- The decision will be appealed, and doesn’t immediately take effect.
- Healthcare stocks linked to the law were under pressure Monday.
Healthcare stocks were under pressure Monday morning after a federal judge ruled that Obamacare was unconstitutional.
US District Judge Reed O’Connor in the Northern District of Texas agreed with the 19 states that argued the individual mandate in the Affordable Care Act, also known as Obamacare, was unconstitutional and that the entire law should be struck down. O’Connor’s ruling won’t immediately go into effect, and will likely be appealed.
Still, that didn’t stop traders on Monday from dumping health insurer and hospital stocks that have big businesses tied to portions of the tied to the law. Here’s a look at the scoreboard ahead of Monday’s opening bell:
- Molina Healthcare (MOH): -7.59%
- Tenet Healthcare (THC): -7.43%
- Community Health Systems(CYH): -7.07%
- HCA(HCA): -6.05%
- Centene(CNC): -4.3%
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