Why AnaptysBio, Co-Diagnostics, and Novavax Are Getting Crushed Today
The three healthcare stocks AnaptysBio, Inc. (NASDAQ: ANAB), Co-Diagnostics, Inc. (NASDAQ: CODX), and Novavax, Inc. (NASDAQ: NVAX) are all taking it on the chin this dark and gloomy Monday. AnaptysBio's stock fell by as much as 13.4%, Co-Diagnostics' shares dipped by as much as 26%, and Novavax's equity shed 23.1% of its value at one point today. These healthcare names have each clawed back from their lows, but they all remain down by at least 10% as of 2 p.m. EDT.
What's weighing on this trio of healthcare stocks today? A pair of black swans. First, crude oil prices collapsed over the weekend due OPEC's inability to reach a deal with Russia. Second, COVID-19 appears poised to trigger a worldwide economic recession due to its negative impact on the global supply chain.
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Source Fool.com
