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Shares of healthcare and drug stocks jump as investors calculate a Senate stalemate

Shares of healthcare stocks jumped on Wednesday as investors calculated that regardless of whether Donald Trump or Joe Biden ends up in the White House over the next four years a Senate stalemate will mean no dramatic changes for either sector.

Shares of Anthem  (ANTM) – Get Report, Cigna  (CI) – Get Report, UnitedHealth  (UNH) – Get Report and others were all trading higher on Wednesday as investors took solace in general healthcare providers that that they expect will continue to provide health services for Americans irrespective of who is in the Oval Office.

While psychological red vs. blue battle lines may have been drawn by healthcare- and pharma-focused investors, many healthcare companies as well as drugmakers will continue to perform well regardless of an ultimate Trump or Biden win, Jim Cramer told his Mad Money viewers on Tuesday.

The same holds true for drugmakers and pharmaceutical companies focused on therapeutics, cancer treatment and prevention and general health maintenance such as Abbott  (ABT) – Get Report, Bristol-Myers Squibb  (BMY) – Get Report, Centene  (CNC) – Get Report, DexCom  (DXCM) – Get Report, Regeneron  (REGN) – Get Report and Thermo Fisher  (TMO) – Get Report, Cramer said.

Sandesh Ilhe
Sandesh Ilhe
With an Engineers degree in Advanced Database Management and Information Security, Sandesh brings the deep understanding of the digital world to the table. His articles reflect the challenges and the complexities that come along with every disruption in the industry. He carries over six years of experience on working with websites and ensuring that the right article reaches the right reader.