Why UnitedHealth Stock Imploded Last Month

Shares of UnitedHealth Group (UNH 0.23%) fell in May, finishing the month down 26.6%. The collapse came as the S&P 500 (^GSPC 0.55%) gained 5.5% and the Nasdaq Composite (^IXIC 0.63%) gained 7.9%.The troubled health insurance giant faced a series of damning reports and allegations of fraud and misconduct following the sudden departure of its CEO.CEO exitsIn May, UnitedHealth's then-CEO, Andrew Witty, announced he was stepping down, citing "personal reasons." The sudden loss of its CEO sent shockwaves throug ...