Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

Democratic presidential hopefuls Vermont Sen. Bernie Sanders and former Vice President Joe Biden chat at the end of the fourth Democratic primary debate on October 15, 2019.

Democratic presidential hopefuls Vermont Sen. Bernie Sanders and former Vice President Joe Biden chat at the end of the fourth Democratic primary debate on October 15, 2019. (Photo: Saul Loeb/AFP/Getty Images)

'Which Side Are You On?' Ask Progressives as Health Insurance Stocks Spike After Centrists Coalesce Around Biden

"People are gleefully gambling that the health insurance CEOs will be able to continue to profit off of killing our friends and family."

Eoin Higgins

As the centrist wing of the Democratic Party appeared to be consolidating around former Vice President Joe Biden's bid for president on Monday, the day before 14 states vote in the Super Tuesday primary election contests, health insurance stocks spiked. 

Observers suggested the surge may be from an expectation that a Biden victory could stop Sen. Bernie Sanders and his progressive movement, which has made universal, Medicare for All healthcare a centerpiece of the race. 

"People are gleefully gambling that the health insurance CEOs will be able to continue to profit off of killing our friends and family," tweeted progressive activist Christopher Jackson. 

According to Bloomberg News, the spike came after reporting that Sen. Amy Klobuchar (D-Minn.) was dropping out of the race and endorsing Biden:

Humana Inc.UnitedHealth Group Inc.Anthem Inc. and Molina Healthcare Inc. advanced at least 1.7% each, spurring the seven-member index of S&P managed care companies toward its best day in almost three weeks. The intraday rally comes as investors leaned into bets that Klobuchar’s backers will side with Biden, and not Senator Bernie Sanders.

As Common Dreams reported, Klobuchar and former South Bend, Indiana Mayor Pete Buttigieg, who dropped out of the presidential race Sunday night—reportedly out of concern Sanders could win if moderates split the vote—are expected to officially back Biden on Monday night at a rally in Dallas. 

The stock spike coming at the same time reporting on Klobuchar's endorsement was in the works provided voters with "everything you need to know" about the Democratic primary, economist Marshall Steinbaum said on Twitter. 

Cartoonist Eli Valley, an outspoken supporter of Sanders, echoed those remarks, saying that the stock surge was a "reminder of what's at stake, and which candidate brings euphoria to the U.S. Health Care Murder Cartel."

The contrast between Sanders and Biden—and the broader progressive and establishment wings of the party—could not be clearer, said progressive activist Jordan Uhl. In a tweet, Uhl juxtaposed the stock spike following Klobuchar's dropping out and scheduled endorsement of Biden with a January post by Sanders surrogate Rep. Ilhan Omar (D-Minn.) calling for Medicare for All and noting the fact that 45,000 Americans die each year from not having health insurance.

"Which side are you on?" asked Uhl. 


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.

'Cleaner Air Is Coming' as London Expands Vehicle Pollution Fee to Entire Metro Area

"Around 4,000 Londoners die prematurely each year because of long-term exposure to air pollution, with the greatest number of deaths in outer London boroughs," noted Mayor Sadiq Khan in announcing the expansion.

Brett Wilkins ·


'Amazing News': Historic Shark Protections Approved at Global Wildlife Convention

Up to 90% of sharks targeted by the lucrative fin trade will now be protected, said one advocate.

Julia Conley ·


'The Nightmare Materializes': Far-Right Extremist Itamar Ben-Gvir to Be Israel's National Security Minister

The Foreign Affairs Ministry of the Palestinian Authority said Ben-Gvir's elevation to national security minister could have a "catastrophic impact on the Israeli-Palestinian conflict."

Jake Johnson ·


Raging Wars, Soaring Hunger Put Women and Girls in Crosshairs, Warns UN

"A toxic mix of crises—conflicts, climate, skyrocketing costs, and the ripple effects of the Ukraine war—are inflicting a devastating toll on the forcibly displaced. This is being felt across the world, but women and girls are particularly suffering."

Brett Wilkins ·


Greta Thunberg Joins 630+ Young People in Landmark Climate Lawsuit Against Sweden

"The Swedish state fails to meet the constitutional requirement to promote sustainable development leading to a good environment for present and future generations," said the plaintiffs.

Julia Conley ·

Common Dreams Logo