Neptune Wellness Solutions Inc.’s shares (NEPT) popped more than 30% on Thursday following plans to boost its weekly production of hand sanitizer to over 1 million units to meet strong demand fueled by the coronavirus outbreak.Neptune, a Canadian-based producer of health products, announced that its subsidiary Biodroga, has accelerated the production of hand sanitizers ahead of time in response to a supply shortage and strong demand from North American retail and government customers as the COVID-19 pandemic continues to take its toll.The company plans to begin shipping the hand sanitizer next week, including fulfilling a purchase order from a large North American retailer."I could not be more proud of how our entire team has mobilized to leverage our collective expertise in procurement, manufacturing, product innovation, supply chain management and regulatory affairs to bring significant and continuous supply of hand sanitizer gel to market ahead of schedule during this critical stage in...
In the past two days, WTI crude oil prices have stabilized after turning negative earlier in the week, and the United States Oil Fund LP (NYSE: USO) was up another 9.9% on Thursday.Oil investors have gotten hammered so far in 2020 as a pricing war between Saudi Arabia and Russia, a sharp drop in demand due to COVID-19 travel restrictions and U.S. storage capacity approaching 100% have created a perfect storm in the oil space.On Wednesday, S3 Partners analyst Ihor Dusaniwsky said short sellers have more than doubled their position in the USO fund so far this year, and the trade has been a huge winner.From Jan. 1 to Feb. 27, USO shorts were up $61.6 million overall. Since that time, short sellers have tripled their exposure to the USO fund and profited an additional $286 million in the process.USO Shorts Leaning In Despite the big gains, USO short sellers have...
In a note on Thursday, MUFG Chief Financial Economist Chris Rupkey warned that the 26 million unemployment claims filed in the U.S. amid the coronavirus pandemic could have dire implications for the future of the U.S. economy. Rupkey joins Yahoo Finance’s Zack Guzman to break it down. ...
The number of jobs lost due to the coronavirus shutdown continue to mount, with the latest weekly total of Americans applying for unemployment benefits topping 4.4 million. Yahoo Finance’s Zack Guzman and Heidi Chung break down the details. ...
