Corona Test Stocks

Corona Test Stocks

8 min read

Are you looking for Corona test stocks? Lately, it seems like this will be our new normal. As a result, companies have been racing to be the first to bring us COVID-19 tests. How will that affect the stock price of these companies? With with the Corona virus seemingly here to stay, tests will be needed in large quantities.

Chart by TradingView

Looking for corona test stocks? As the U.S. heads for a second, or for some, third spike of COVID-19 infections, several companies are creating various testing options. They need to identify possible infections and infectious individuals to best stop the COVID-19 viral spread prior to a safe and effective immunization being available. Creating useful and reliable products is difficult. Even the FDA is warning of both fake and/or unreliable tests.

Several companies do fall into the desired category and have done well since the pandemic started. Companies that can win this race will potentially be successful.

And their investors will, in turn, also make gains with corona test stocks. However, we do urge caution as each day moving forward is a day closer to a sector crushing trusted immunization.

The Swab and Send

There are a few companies that do the now famous nasal swabs to identify an active COVID-19 infection. The winner, by far, has been Quest Diagnostics (NYSE: DGX).

Quest is currently sitting at $125/share; up from an April low of $73/share. Quest is the choice for most clinics that don’t have on-site testing capabilities.

Through October, they have produced 22 million of the 134 million tests to date. In July, Quest stated that they were conducting 335,00 combined active infection and antibody tests per day with a 1-2 day turnaround for most tests.

Quest is making a great case for corona test stocks to look at. As a result, you can look at them along with food delivery stocks.

With each new spike in infections, Quest will likely continue to prosper.

Popular Trading Tools

COMPANY
Trade Ideas Logo TrendSpider Premium Partner Benzinga
DESCRIPTION Trade Ideas provides powerful tools like real-time market scanning, AI-driven trade signals, customizable alerts, advanced charting capabilities, and time-saving data visualization TrendSpider is the most robust all-in-one trading platform on the market today. Uncover strategies, pinpoint opportunities, analyze assets, and time trades like never before Benzinga allows traders to profit with actionable stock news, trading signals and alerts, A streaming platform with all the information you need to invest smarter today
HIGHLIGHTS

In-Office Swabs

For the hospital scale and major clinics that wish to conduct testing in house, the big player is Hologic (NASDAQ:HOLX).

They’re maker of two products. The most popular being their “Panther Fusion” machine; which only uses Hologic tests. And their lesser known “Aptima” tester.

Both are for the identification of active COVID-19 infections. Their stock is currently sitting at $69.69/share up from its March low of $29.38/share.

Combined, the two Hologic machines are making over 1.5 million diagnoses a week. And the company’s molecular diagnostics segment third-quarter revenue has grown to $460.3 million, a 170% year over year rise.

Make sure to check out fundamental analysis on corona test stocks. Any drug or bio tech company going for this needs to be vetted.

Sectors and Industries

On-Site Rapid Testing

For smaller outpatient clinics and doctors offices, Quidel Corp (NASDAQ:QDEL) is the choice. From their September slump of $152/share QDEL is now trading at $263/share.

Quidel has three different testing options. Many clinics already have Quidel’s “Sofia” analyzer device used to test for many pathogens. They just need a “SARS Antigen FIA” addition to it to be capable of on-site 15-minute COVID-19 test.

Quidel saw a second-quarter sales volume increase of 86%, year over year. In July they signed a $71 million deal with the NIH(National Institute of Health) to increase their diagnostic unit production from 84 million units to over 220 million units per year; a 164% rise. This deal will likely bring better earnings with it to boot. Now if you’re looking for a corona test that needs no lab equipment check out corona test stocks Abbott Laboratories (ABT). They have several solutions, including their “BinaxNOW” test, offering patients five minute results.

It requires no additional lab equipment. Abbott’s stock is up from a March $62.82 to $106.4/share. It’s unknown if they’re trying to produce the at-home version of this test.

Bullish Bears Trading Courses

COURSE
Day Trading Course Options Trading Course Futures Trading Course
DESCRIPTION Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action
Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading
INCLUDED

At Home Testing

For many, not having to go to a medical center or office and potentially expose themselves to the virus if they’re only going to check if they have it in the first place is a benefit.

An accurate and reliable at-home test that’s covered by most insurance would be the best to prevent further transmission. Being the first-mover for reliable at-home testing is a step forward.

And is held by an unexpected retailer. However, getting insurance companies to pay is a harder step. One that has not been passed yet.

The big box bulk seller Costco (NASDAQ:COST) is now marketing a $129.99 standard or $139.99(with video observation) stay at home PCR by AZOVA.

From P23, selling kits through an emergency-use authorization can be a safe and reliable test with a turn around of between 1-2 days. This could be a game-changer for the industry if it gains acceptance by consumers and insurance companies.

List of Corona Test Stocks

  1. CVS Health (NYSE:CVS)
  2. Fulgent Genetics (NASDAQ:FLGT)
  3. Oaktree Acquisition (NYSE:OAC)
  4. LabCorp (NYSE:LH)
  5. Rite Aid (NYSE:RAD)
  6. Walgreens (NASDAQ:WBA)
  7. Walmart (NYSE:WMT)

Above are seven other retailers and labs either trying to get their own version of at-home testing up and running. Most importantly, it requires FDA approval. Or they’ve received an emergency approval and are in the initial marketing phases of this testing.

Whoever ends up with a safe, reliable test, for a low enough price that people feel comfortable with, will for certain, win in the short term.

For how long, and the total number of these different kinds of tests will be needed is the most important questions that only time will answer.

And you can keep an eye out for any IPO coming. Especially if it has to do with corona test stocks.

Corona Test Stocks Bottom Line

Corona test stocks have the potential to be big. Especially as it seems that COVID-19 cases are back on the rise. Hopefully they come up with a more comfortable way to be tested as things progress.

Just remember that whether you’re implementing day trading strategies or investing in them, make sure you’ve looked at the technicals and fundamentals. You want the best entry on your trade.

Related Articles

AI Stocks

AI Stocks

AI stocks have become quite popular the more AI becomes. We’ve seen prices fly in recent weeks. Does that mean they’re in a bubble? Or

Read More »
Fast Food Stocks

List of Fast Food Stocks

What would our life be without delicious foods from all over the world? I would feel incomplete without my favorite hole-in-the-wall that serves the best

Read More »

FREE ONLINE TRADING COURSES

If you’ve looked for trading education elsewhere then you’ll notice that it can be very costly.

We are opposed to charging ridiculous amounts to access experience and quality information. 

That being said, our website is a great resource for traders or investors of all levels to learn about day trading stocks, futures, and options. Swing trading too! 

On our site, you will find thousands of dollars worth of free online trading courses, tutorials, and reviews.

We put all of the tools available to traders to the test and give you first-hand experience in stock trading you won’t find elsewhere.

Our content is packed with the essential knowledge that’s needed to help you to become a successful trader.

It’s important to treat day trading stocks, options, futures, and swing trading like you would with getting a professional degree, a new trade, or starting any new career.

Invest the proper time into your Trading Education and don’t try to run before you learn to crawl. Trading stocks is not a get-rich-quick scheme. It’s not gambling either, though there are people who treat it this way. Don’t be that person! 

STOCK TRADING COURSES FOR BEGINNERS

The Bullish Bears team focuses on keeping things as simple as possible in our online trading courses and chat rooms. We provide our members with courses of all different trading levels and topics.

If you’re a beginner, intermediate level, or looking for expert trading knowledge…we’ve got you covered. 

We have a basic stock trading course, swing trading course, 2 day trading courses, 2 options courses, 2 candlesticks courses, and broker courses to help you get started. Free.

Just choose the course level that you’re most interested in and get started on the right path now. Become a leader, not a follower. When you’re ready you can join our chat rooms and access our Next Level training library. No rush. We’re here to help.

Click Here to take our free courses.