These Stocks Are making Buzz on Coronavirus Fear
Stock markets have been in turmoil across the world due to the coronavirus epidemic, which has now spread across the world, and experts believe that it could create a global economic slowdown. While many stocks have tanked considerably in light of the fear of economic slowdown, many other stocks have soared. Many of those stocks are involved in developing vaccines for the virus, and it could be worthwhile for investors to take a look at those stocks. Here is a look at three of those.
The first one to coronavirus stock to consider at this point is that of Alpha Pro Tech, Ltd. (NYSEAMERICAN: APT), which has soared at a remarkable rate in 2020 so far. The company manufactures face masks, and due to the massive demand for those, the stock has surged by as much as 350% this year so far. The company makes N-95 face masks, and in the period from January 27 to February 20, Alpha Pro Tech received orders worth $14.1 million. The huge surge in orders has had a highly positive effect on the stock as well.
On the other hand, Co-Diagnostics Inc (NASDAQ: CODX) is another stock that investors could keep an eye on. The stock has made significant gains this year on the back of its coronavirus testing kits, and those kits have been in massive demand. The proprietary testing kit is now the standard for coronavirus testing, and due to the shortage of such kits in the United States, the demand has been rising. If the current crisis continues, then the company should sell many more of its testing kits. The stock has soared over 1100% since the beginning of the new year.
Lastly, it is Allied Healthcare Products Inc (NASDAQ: AHPI) that has made gains in excess of 1300% this year so far owing to the coronavirus crisis. The company makes products that have the potential of generating large sales if there are global crises. The company’s mass casualty ventilators and other products can be used during an epidemic. Due to the outbreak of the coronavirus, Allied has done well as a business, and the stock has gained 1340% so far.
Source: Stock Market Press
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