Corona virus medical stocks are like the new cannabis stocks.
On January 21st the World Health Organization began to investigate if the virus was a public health emergency or not.
Since that day, certain companies have seen their stock prices skyrocket (🚀📈50% in one week) on speculation of creating a vaccination or increased sales of medical equipment (surgical masks, for example)
Example companies: $INO, $LAKE, $APT
In 2018 we saw cannabis stocks hyped up daily by the media. Some companies had fundamentals to back up their valuations, and some did not. A year later, after the speculation and media hype cleared away, some companies were left standing on their firm foundation and some dissolved like sandcastles in the rain. E.g. TLRY & CTST down -95%
The effect that world news can have on the valuation of companies is very intriguing.
Cause & effect is a beautiful thing.
This is not investment advice, but if you’re a risk-seeking speculator feel free to ping me.
Img credits: Contratheheard.com
#Stocks #CoronaVirus
