By
Godfrey Benjamin
March 22nd, 2024
Some new evergreen stocks could become a new choice for investors. Moderna (MRNA), Gilead Sciences (GILD) and Co-Diagnostics (CODX) are also expected to change the game for coronavirus.
New evergreen stocks could emerge as a result of the coronavirus crisis. These stocks have won such a status as global markets have tanked following the outbreak of COVID-19. The gaps created by coronavirus has caused the global economy to come to a standstill. This has affected the businesses all over the world. The outlook for the emergence of healthy economies remains uncertain.
Many have considered the fact that business recovery will be difficult. This is affecting investment flows as well. There is no longer only one epicenter of the virus as new cases outside the Peoples’ Republic of China are increasing daily. This has led to closures of many public places in may countries. There is also the cessation of many activities. Countries are also limiting access to various resources to outside markets. This is certain to lead to the scarcity of these vital resources.
Stocks Are Suffering as a Result of Coronavirus Emergence
The outlook seems dark. Companies such as Apple Inc (NASDAQ: AAPL) and Tesla Inc (NASDAQ: TSLA) are mostly on the downside due to various factors that correspond to concerns about COVID-19 and China. Apple’s global supply chains are being cut down. Tesla’s Chinese orders are on the decline. The stock tickers seem to offer little hope of returns for investors.
Some Companies are Changing Everything
A couple of companies, however, offer hope to investors during these times. And they could offer the stocks that are expected to become evergreen. Gilead Sciences Inc (NASDAQ: GILD), Moderna Inc (NASDAQ: MRNA) and Co-Diagnostics Inc (NASDAQ: CODX). These three all have one thing in common: COVID-19. They all have one thing or the other to do with the Coronavirus. They are involved in the search for a solution to the problems that coronavirus has caused globally. Many within the global investment community consider them to be leading lights. Investors are considering the promise of profit for them due to the multiple crises that the world is going through.
Gilead Sciences Inc seems to offer most investors immediate promise. Its trial drug remdesivir is doing well in China currently. It has reportedly been recently considered to be effective against current cases of COVID-19. This comes after the company reportedly tarted trials both in China and the United States. Results are expected within a few weeks.
Moderna Inc (MRNA) has a mixed bag of issues. On the upside, the first batch of its vaccine has been delivered to the National Institutes of Health (NIH). Trials and further studies are expected to start soon. Human trials are expected to start in April. On the flip-side, the fourth-quarter results of the biotech company were in the negative.
Revenues dropped to about $14.1 million. This indicates a 60% drop. A net loss of $124.2 million isn’t exactly good news either. A 13.8% increase in losses indicate that the company’s fortune on a normal day is dismal.
However, these days aren’t normal. Recent news of its Coronavirus vaccine trials and Cytomegalovirus (CMV) has excited investors. Moderna (MRNA) stock has spiked. This has proven that the company still holds promise despite the losses.
The case of Co-Diagnostics Inc (CODX) is pretty straightforward. Regulatory approval for its Logix SmartCoronavirus COVID-19 test kits has come through. This will allow the test kits to be sold as “in-vitro” tests. The demand for test kits is increasing globally. The company seems set to meet the demand.
New Evergreen Stocks Are Solving Problems
At the end of the day, it’s the solution to problems that produce profits. These three companies seem to have gotten that right.
At the time of filing this report, Gilead Sciences (GILD) stock was at $76.01. This is a 2.43% increase in prices since the last trading session. In the premarket, however, it lost $1.47.
Moderna Inc. (MRNA) stock prices stood at $27.49. This is a 1.5% decline since the last trading session. In the premarket, the price was practically the same – $27.48.
Yesterday Co-Diagnostics Inc (CODX) stock prices stood at $12.00, in the premarket it was over 23% up. And it reached $14.81.