Today we are watching…
1. Johnson & Johnson (#jnj)
Not only is consumer packaged goods giant Johnson & Johnson leading the antibacterial market with global pamper brands, but it also works at the forefront of new biotechnological development. Investors are desperate to catch the company that concocts the commercial cure to COVID-19, and J&J has an HIV drug called darunavir (DRV). Scientists in China are testing its effectiveness against the new virus, and that’s why shares in the massive American pharmaceutical brand have only done half as badly as the wider market. Johnson & Johnson may have a role to play yet in saving the world!
2. Uber Technologies (#uber)
Investors in ride-hailing took heavy losses yesterday as carpool services were suspended and barred. Investors have lumped Uber and Lyft in with transportation stocks and considered them some of the weakest given their unprofitability and reliance on external funding to stay in business. That’s why shares have done especially poorly this March. The coronavirus represents a fallen tree blocking the road ahead for the industry. However, measures like this help to “flatten the curve,” create a social distance to slow the virus’s spread, and get this nightmare over and done with more quickly.