HMA Takes a Hammering

Investors have finally lost their patience and pulled the plug on Health Management Associates (HMA Quote).

With their hopes for a long-awaited recovery dashed by a miserable second-quarter update, HMA investors on Tuesday dumped their stock -- sending it to lows unseen since 1999 -- in an effort to escape further pain. Wall Street experts, who once adored HMA's stock, started issuing downgrades that helped usher investors out the door.

CRT Capital Group analyst Sheryl Skolnick, already an outspoken critic of HMA, quickly cut her rating on the company's stock from fair value to sell despite its 20% plunge on Tuesday. ...