While the pandemic has negatively impacted the earnings of the majority of companies there are those looking to profit from COVID-19. Hundreds of companies and research centres worldwide are racing to produce a coronavirus vaccine or treatment. Those companies that succeed will profit handsomely. This hasn’t passed investors by with speculative bets being placed on individual stocks (of companies researching a vaccine) in the hope of getting a big-ticket win in what feels increasingly like a COVID-19 vaccine lottery.
Take Gilead Sciences for example. The company’s stock price has been on a rollercoaster of a ride since the pandemic. Back in April the publication of a promising report about the company’s antiviral drug tests used for treating COVID-19 saw its share price rocket 12% in a single day.
By mid-April Gilead Sciences’ share price had rallied 35% from its January low, compared with a fall of 14% for the S&P 500 over the same period.
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