Stocks closed out Friday’s session sharply lower after Texas and Florida reversed their reopening processes and closed bars and limited restaurant capacity following surges in coronavirus cases. Each of the three major indices fell more than 2%, and the S&P 500 dropped to its lowest level in two weeks....
Recent headlines were saturated with the alarming uptick of new coronavirus cases in several states. Accordingly, the stock market experienced a sell off. Yet, stocks of companies engaged in the search for a COVID-19 vaccine or treatment took the news as a bullish signal. Inovio Pharmaceuticals (INO) skyrocketed over 100% this week, after the coronavirus vaccine maker disclosed it had been given $71 million by the U.S. Department of Defense (DOD). This will go toward the manufacturing of its Cellectra 3PSP smart device and the purchase of Cellectra 2000 devices. These are the devices through which Inovio’s COVID-19 DNA vaccine candidate INO-4800 is delivered into the skin.INO-4800 is currently in a Phase 1 trial with interim data expected in June. A Phase 2/3 trial of INO-4800 should also kick off in the summer.Maxim analyst Naureen Quibria argues the new contract represents vindication for Inovio’s vaccine program.“The DoD coming on board for...
CNBC recently released its 2020 Disruptor 50 list, which comprises the top 50 private companies in the world that are positioned to become the next class of multi-billion dollar giants. Landing the No. 2 spot on CNBC's Disruptor 50 list was Coupang, a $9 billion e-commerce company widely considered the "Amazon of South Korea." Its placement on the list has many asking the question: Should I invest in Coupang?Source: Michael Vi / Shutterstock.com Rumors are swirling that this innovative, hyper-growth e-commerce giant will IPO sometime in 2021. For public investors, that's exciting, because it gives us the chance to invest in Coupang, which is arguably the most explosive e-commerce company in the world today with huge upside potential in the long run.Coupang's valuation currently sits around $9 billion. The company will likely IPO at a higher valuation, maybe around $20 billion or more. Long-term, though, this is a $50+ billion company...
Stocks closed out Friday’s session sharply lower after Texas and Florida partly reversed their reopenings as a result of soaring COVID-19 infections....
Stocks closed out Friday’s session sharply lower after Texas and Florida reversed their reopening processes and closed bars and limited restaurant capacity following surges in coronavirus cases. Each of the three major indices fell more than 2%, and the S&P 500 dropped to its lowest level in two weeks....
(Bloomberg) -- At record highs on Tuesday, the popular group of megacap tech stocks known as the Fangs is ending the week with the worst plunge since the depths of the Covid crash.While intermittent stumbles have been a regular feature of the broad market during the recovery phase, ones involving its core constituency of the biggest online companies have been all but unheard of. The group’s automated, algorithmic, stay-at-home moat has insulated them from day-to-day ups and downs, making them a central holding of hedge funds and other institutions who have shied away from retail favorites in the airline and hospitality industries.Combined, Facebook, Amazon.com, Netflix and Alphabet alone make up more than a 10th of the S&P 500 and near a quarter of the Nasdaq 100. Add in Apple and Microsoft -- which are often grouped together to create the FANMAG stocks -- and their weightings increase to 22% and 48%,...
