Dynavax Technologies Received Good Covid-19 Results and Facebook Facing Recent Controversies
Dynavax is a healthcare company located in Oakland, California near UC Berkeley. They have a market cap of $2.156 billion, and they focus on developing novel vaccines for diseases, making them very helpful for the current era of the world.
On Wednesday, Dynavax received positive results on their COVID-19 vaccine trials. Out of 30,000 people, there were zero severe COVID-19 cases, and its efficacy rate against the Delta variant was 79%. It’s lower than Pfizer and Moderna, but their efficacy rate was recorded before the Delta variant appeared. Investors were excited as this could be a new vaccine in the market, and the stock price reacted similarly as it closed at $18.79, up 26.45%.
Facebook is a tech giant and they are one of the most valuable companies in the world with a market cap of $967.66 billion, so close to the 1 trillion mark. The social media app has dominated the game for a while, but large companies often face controversies, and Facebook has got a lot of them recently.
Recently, the Wall Street Journal released a scathing report against Facebook. One of the issues brought up were the mental health effects of Instagram on the youth population, which were negative, and the fact that Facebook tried to downplay this and hide it. Along with this, Facebook’s CTO resigned after the report was released, which added more fuel to the flames. Investors are a bit concerned, and it was easy to see as Facebook closed the day down 3.99% to $343.21.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.