Facebook (FB) Stock Gained 3.16%, Facebook Confirms Contractor Tested Coronavirus Positive

On Mar 5, 2020 at 1:29 pm UTC by Teuta Franjkovic · 4 min read
Facebook (FB) Stock Gained 3.16%, Facebook Confirms Contractor Tested Coronavirus Positive
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Facebook has announced that one of its contractors is infected with the coronavirus. Though FB stock gained yesterday, it is falling in the premarket.

Facebook Inc (NASDAQ: FB) reported that their worker, from Seattle headquarters, has been diagnosed with the coronavirus. This is the first known infection inside the company. Meanwhile, Facebook (FB) stock is not going to lose its positions, though in teh premarket it is down.

The employee has been in Facebook’s Stadium East office in Seattle on February 21. On Wednesday, the company warned its other employees Wednesday about it and shut down the Seattle office until March 9. Employees in Seattle are encouraged to work from home until the end of the month.

Facebook Inc. said a Seattle worker has been diagnosed with the coronavirus, the first known infection within the company as the pathogen continues to spread in the region.

Anthony Harrison, Facebook company spokesperson said:

“A contractor based in our Stadium East office has been diagnosed with the COVID-19. We’ve notified our employees and are following the advice of public health officials to prioritize everyone’s health and safety.”

Reymerlyn Martin from Insider Monkey says that COVID-19 will kill around 5 million people worldwide and there is actually a 3.3% probability that president Donald Trump will die from the new coronavirus. However, calculating through Facebook Inc stock, she says shareholders have witnessed an increase in support from the world’s most elite money managers in recent months. Their calculations show that FB ranked #2 among the 30 most popular stocks among hedge funds.

Facebook (FB) Stock Still a Bargain

From the Simply Wall Street they say that Facebook (FB) stock saw significant share price movement during recent months on the NASDAQ, rising to highs of $223 and falling to the lows of $186.

They said:

“Facebook is still a bargain right now. According to my valuation, the intrinsic value for the stock is $293.78, but it is currently trading at US$186 on the share market, meaning that there is still an opportunity to buy now. What’s more interesting is that, Facebook’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market.”

At the time of writing Facebook (FB) stock was down 2.33% to $187.30 in the premarket. However, yesterday FB was 3.16% up, at $191.76.

Good Time to Buy

Analysts are recommending that, since the company’s stock is currently undervalued, it is a good time to buy. The truth is, coronavirus is spreading at the fastest pace anyone can remember. And not just that, it is spreading through the whole world.

A total of 15 new deaths from the coronavirus have been registered in Iran and 591 new cases of COVID-19 have been added to the record over the past 24 hours. Official figures now put the total number of deaths from COVID-19 in Iran at 107 and the total number of confirmed patients at 3,513.

In the meantime, United States President Donald Trump said that Washington correctly responded to the COVID-19 epidemic. Additionally, he noted the country is currently helping other nations and is ready to help Iran, which is fighting one of the worst cases of the outbreak, although he stressed that it would be “very hard.”

China’s National Health Commission reported the number of deaths caused by the COVID-19 epidemic passed 3,000 in the country in the past day. The number of fatalities on the mainland increased by 31, bringing the total nationwide death toll to 3,012, with all deaths recorded in China’s Hubei province, the epicenter of the outbreak.

Amazon Suffering from Consequences of Coronavirus

And it’s not just Facebook but also Amazon.com Inc (NASDAQ: AMZN) who is feeling the consequences of the coronavirus impact.

Amazon announced on Tuesday that one employee who works in one of its Seattle, Washington, offices has been tested positive for the coronavirus. Also, on Sunday, Amazon confirmed that its two employees in Milan, Italy, have contracted the coronavirus and are under quarantine.

The stock of this online market giant is falling by 2.08% to $1,934.66 in the premarket.

Business, Markets, News, Social Media, Stocks
Teuta Franjkovic
Author: Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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