At the moment, Inovio (INO) is probably the best performing stock among the biotech companies, with over 300% gains. Let’s take a look at the reasons why this is so.
The Dow Jones Futures dropped Monday morning. This comes are investors are bracing for more bad news about COVID-19.
Bitcoin and other cryptos’ prices dropped soon after a plunge in oil prices. Besides, Bitcoin lost its positions as a result of a crypto scam committed by PlusToken.
Aramco shares fell below its IPO price level for the first time on Sunday. Other Saudi stock markets like Tadawul, Abu Dhabi Index, also fell caused by the OPEC-Russia deal gone sour on Friday.
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European stocks fell sharply on Friday. On Wall Street, equities sank as well with the Dow Jones industrial average falling by 250 points. The coronavirus is spreading.
Facebook (FB) stock has negatively reacted to the current situation in the U.S. caused by the coronavirus outbreak and all the related risks.
Global airlines stand to lose $113 billion in sales if the coronavirus continues to spread, according to the International Air Transport Association. The airline stocks have been also seriously hit.
Amazon, Facebook, Google and Microsoft are all encouraging employees in the Seattle area to work from home due to concerns about the coronavirus as the outbreak in Washington grows.
JPMorgan (JPM) stock has lost nearly 5% of its weight as news that the company’s CEO will be away after his emergency surgery makes the rounds. In the premarket, the stock is 3.48% down.
While the coronavirus fears are spreading in the U.S., many tech giants are under their influence as well. MSFT stock lost over 2% yesterday and continues falling in the premarket.
Tesla (TSLA) stock is the most shorted stock on the market. Over the last seven days, its short-sellers made $1.1 billion. It runs neck-and-neck with Apple.
The COVID-19 spread continues to cast a larger shadow on the global markets as volatility seeps in. Analysts say that corrective measures by the Fed are doing little to control the market fall. Dow seriously dropped on Thursday.
Automobile giant Tesla could see competition growing as home-rival General Motors announces its all-electric vehicle roll-out starting next year. Tesla (TSLA) started falling on Thursday.
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.