Why Bausch Health Stock Popped on Friday
Bausch Health (NYSE: BHC), a multinational eye care and speciality pharmaceutical company, saw its shares gain a healthy 15.9% last Friday. Bausch, like many other healthcare companies, rebounded at the end of the week after President Trump's declaration of a national emergency, combined with the widespread assumption that Congress would ultimately pass a sweeping economic stimulus package with bipartisan support in the near future.
Even so, Bausch's shares still ended the week down by 10.3%. The good news is that the company's stock performed slightly better than the broader biopharmaceutical industry during this turbulent period. The closely watched iShares Nasdaq Biotechnology ETF, after all, shed over 12% of its value last week as a result of the growing concerns over the global economic and public health impact of the COVID-19 illness.
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Source Fool.com
