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Pharmaceutical industry

Stocks to "Buy the Dip" as Market Approaches New Year

Strategic Insights

— 2 min read

As the year comes to a close, Congress has reached an agreement on a Covid-19 relief bill, and stocks are enjoying a "Santa Rally" despite some sectors not faring well this past week. Politicians from both parties have received their first dose of the coronavirus vaccine, a potential turning point in the pandemic. With this momentum, it may be time to "buy the dip" in stocks that have declined in recent days. Here are six stocks that have experienced significant declines and could offer opportunities for investors.

Key Takeaways:

  • Virgin Galactic (SPCE) filed for shareholders to sell 113 million shares, but its stock charts show potential for a buying opportunity.
  • Occidental Petroleum (OXY) rose significantly in December due to the OPEC+ production accord but will be knocked out of the S&P 100 by Tesla's entry.
  • Moderna (MRNA) named the third-best stock in 2020 but received a setback when Donald Trump's tweet about vaccine approval was disputed by the FDA.
  • Pfizer (PFE) started rolling out its vaccine last week after receiving approval for emergency use, but its stock price dropped 8.37% in the last five days.
  • United Airlines (UAL) received a downgrade from J.P. Morgan, causing its stock price to fall 7.49% in the last five days.
  • AstraZeneca (AZN) agreed to a takeover of Alexion Pharmaceuticals for $39 billion and has a rating of Buy with a rating score of B.
  • Cigna (CI) announced new leadership to bring on its new phase of growth during the Biden administration and has a rating of Buy with a rating score of B.

Statistics:

  • Virgin Galactic (SPCE) stock price decreased by 25.59% in the last five days and increased by 5.53% in the last month.
  • Occidental Petroleum (OXY) stock price rose by 43.90% in the last month but fell by 11.35% in the last five days.
  • Moderna (MRNA) stock price dropped by 10.64% in the last five days but rose by 57.76% in the last month.
  • Pfizer (PFE) stock price fell by 8.37% in the last five days but increased by 24.81% in the last month.
  • United Airlines (UAL) stock price dropped by 7.49% in the last five days and increased by 8.99% in the last month.
  • AstraZeneca (AZN) stock price fell by 7.48% in the last five days and decreased by 7.00% in the last month.
  • Cigna (CI) stock price dropped by 5.86% in the last five days and decreased by 6.57% in the last month.

Sources:

  • https://www.thestreet.com/investing/latest-stimulus-talks-updates-in-congress
  • https://www.thestreet.com/investing/virgin-galactic-spce-share-sale-filing
  • https://www.thestreet.com/investing/virgin-galactic-spce-stock-trading-failed-test-flight
  • https://www.thestreet.com/investing/oil-stocks-rise-as-opec-plus-reaches-production-accord
  • https://www.thestreet.com/investing/best-stocks-of-2020-moderna-number-four
  • https://www.thestreet.com/investing/moderna-slips-as-trump-tweets-vaccine-approval-ahead-of-fda
  • https://www.thestreet.com/lifestyle/health/pfizer-vaccine-rollout-begins-monday-in-u-s
  • https://www.thestreet.com/investing/white-house-told-fda-boss-to-ok-pfizer-vaccine-friday-or-resign-report
  • https://www.thestreet.com/investing/united-jetblue-spirit-downgraded-by-jp-morgan
  • http://secure2.thestreet.com/cap/prm.do?OID=022563
  • https://secure2.thestreet.com/cap/prm.do?OID=038652

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