Why did Cano Health stock jump today? Gained in sympathy with Signify Health speculation
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The shares of Cano Health (NYSE:CANO) jumped 16% amid amid reports that the home health service provider Signify Health (NYSE:SGFY) plans to conduct a board meeting to evaluate multiple buyout offers.

Cano Health (CANO) is spiking on speculation it could be another takeout candidate after Signify Health (SGFY), especially after Amazon (AMZN) agreed to buy One Medical (ONEM) in a $3.9 billion deal last month. Dealreporter mentioned CANO in an item on Monday morning relating to the Signify Health speculation.

The bidders for Signify Health (SGFY) include tech giant Amazon (AMZN), health insurers UnitedHealth (UNH), CVS Health (CVS), and home healthcare provider Option Care Health Inc. (OPCH). A winner could be announced as early this week, Bloomberg reported Sunday evening, adding that UNH has placed the highest bid of more than $30 per share.
Cano Health (CANO) shares climbed 11% on Wednesday amid vague deal speculation following a Dealreporter story. The item suggested that major insurance companies like Humana (HUM), UNH and CVS could be viewed as potential bidders for CANO due to its share drop this year and after the One Medical (ONEM) deal.
The latest speculation comes after Cano Health (CANO), whose shares have plunged 46% YTD, surged 43% on March 9 after activist investor Daniel Loeb's Third Point hedge fund said CANO should explore strategic alternatives, including a potential sale.