Shares of Tenet Healthcare Corp (THC) wrapped up Thursday’s trading day to the upside, by more than a dozen percent on very heavy volume, making it the TheStreet’s Move of the Day. The stock gained double digits, jumping on news of the Supreme Court decision along with other healthcare stocks. The Supreme Court ruled that the federal government can continue issuing subsidies to Americans through the Affordable Care Act. In a 6-3 victory for President Obama, the nation’s highest court rejected the latest challenge to the law. Eligible Americans in the 34 states with federal marketplaces, as well as those living in states with their own exchanges, will continue to get federal tax credits. If the court had ruled against Obamacare, about 6.5 million Americans could have lost their credits for healthcare. Shares of hospitals such as Tenet Healthcare gained following the ruling as the ACA helps patients pay for their care. TheStreet’s Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio pointed to opportunities in hospital and insurance, saying inexpensive stocks such as Tenet Healthcare could move higher following the ruling.
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