Hey traders, Barrie Einarson here with today’s edition of What Makes This Trade Great—except today, let’s call it What Makes This Trade Terrible.

Not much else going on in the premarket, but CNC really stood out—and not in a good way.

CNC is a healthcare provider that just dropped a bombshell. They were supposed to release earnings around July 29th but decided to get ahead of it by pulling their guidance entirely. That’s basically code for “brace yourselves, the news will be bad.”

As you can imagine, the market didn’t take kindly to that. Stock absolutely cratered—down roughly 39% this morning. There was a tiny pop from around $34, but it barely moved the needle.

I was watching to see if we could catch a short on any weak bounces, but the action was pretty one-way. Frankly, it’s just a devastating move for shareholders, but these are the kinds of events traders look for if they’re quick and disciplined.

Other than that? Not much to see out there. It’s a holiday-shortened week—the market closes early tomorrow and is shut on Friday. Lots of traders are taking time off, so volume might be light.

We’ll see what tomorrow brings. Stay nimble, manage your risk, and I’ll catch you in the next one.