Market In Correction: 5 Stocks Resist Virus Attack In February
Zacks Investment Research | Feb 27, 2020 09:43PM ET
The final days of February have been brutal for global stocks, with U.S. stocks seeing steep losses for is now on course for its worst week since the Eurozone debt crisis in 2011.
Global markets lost $1.83 trillion on Feb 27, with the U.S. markets shedding $1.33 trillion, S&P Dow Jones’ Howard Silverblatt said in an email. Over the past six days, global markets wiped out $6 trillion , with U.S. markets losing $4 trillion.
Bank of America (NYSE:BAC) commented that the global economy is on its way for its weakest year since the 2008 financial crisis due to increased lockdowns, restrictions on global travel and lower manufacturing activity in China. Also, Goldman Sachs (NYSE:GS) slashed its outlook for U.S. companies’ earnings growth to zero.
The three key big U.S. indexes and a small-cap index Russell 2000 tanked 9.3%, 10.7%, 7.9% and 9.1%, respectively (as of Feb 27, 2020). Against this backdrop, we highlight a few stocks that skyrocketed in the past month.
Co-Diagnostics Inc. (NASDAQ:CODX) — Up 207.9%
The molecular diagnostics company is clearly benefiting from the virus threat as The Wining Sector & Its Top Stocks in Virus-Infected January ).
VAXART INC. (NASDAQ:VXRT) — Up 128.9%
Vaxart is a clinical-stage company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Its development programs are oral tablet vaccines designed to provide protection against norovirus, seasonal influenza and respiratory syncytial virus. It also acts as a therapeutic vaccine for human papillomavirus.
No wonder, the company is in an advantageous position now as all expect a COVID-19 vaccine from it. It surged 49.7% on Feb 27. The stock has a Zacks Rank #2 andcomes from a favorable Zacks industry (top 39%).
Sprint Corporation (NYSE:S) — Up 109.4%
The wireless communications company’s stock has been gaining on the merger news. Sprint is poised to gain from potential growth opportunities of resilient 5G network rollout from its on Feb.11 , the stock surged. The Zacks Rank #3 (Hold) belongs to a favorable Zacks industry (top 41%).
Stamps.com Inc. (NYSE:S) — Up 86.4%
The Zacks Rank #1 (Strong Buy) company is a provider of Internet-based postage services. Stamps.com's service for postage online enables small businesses, enterprises and consumers print U.S. Postal Service-approved postage with just a PC, printer and Internet. The stock hails from a favorable Zacks industry (top 33%).
Uniti Group Inc. (NASDAQ:UNIT) — Up 59.5%
The Zacks Rank #3 real estate investment trust company is engaged in the acquisition and construction of mission critical infrastructure in the communications industry.
Get The News You Want
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.