The Stock Market Today - Top Stories To End Your June 2021
Best Penny Stocks For Your July 2021 List? 8 Biotechs To Watch Now
One of the great things about biotech penny stocks is the potential of these companies. There are very few places that offer this kind of early access to potentially life-saving treatments. If you take a look at last year’s pandemic, some of the most unassuming names flourished. That was thanks to the fast-acting business acumen from some of these companies. One of the biggest highlights, at least among penny stock traders, was Novavax (NASDAQ: NVAX).
Not only do companies have the potential to achieve what Novavax was able to under the right circumstances, but the industry is also full of big mergers and acquisitions. Early-stage companies develop clinical trial pipelines. Larger companies may then target these smaller firms as buyout candidates.
For instance, Merck (NYSE: MRK) bought cancer drug research company VelosBio Inc. from Pappas Capital and other investors for $2.75 billion. Gilead Sciences (NASDAQ: GILD) picked up Immunomedics for $21 billion to gain access to a breast cancer treatment, Trodelvy. The list goes on. In this article, we’ll look at a few current and former biotech penny stocks that have continued demonstrating strength in the stock market in 2021.
Facebook is testing drastic changes to Instagram to make it more like TikTok
Facebook’s head of Instagram on Wednesday announced the social network plans to start showing users full-screen, recommended videos in their feeds.
“We’re also going to be experimenting with how do we embrace video more broadly -- full screen, immersive, entertaining, mobile-first video,” Mosseri said in a video posted on Wednesday. “You’ll see us do a number of things, or experiment with a number of things in this space over the coming months.”
Specifically, Mosseri said Instagram has plans to show users full-screen videos in their feeds. This includes videos it recommends to users, including those from accounts they do not already follow. Users will start to see Instagram’s experiments with these changes over the coming months, he said.
Marijuana Is Now Legal In New Mexico After New Law Is In Effect
Want more reasons to look at marijuana stocks? Its official New Mexico has now enacted a law regarding legal marijuana. This new legislation was initiated this past Tuesday with a cap on personal cannabis possession. Which was done in addition to growing marijuana being legal for those 21 and older. Now for those who use cannabis may legally hold up to 56 grams in their possession as well as 16 grams of concentrates. Also, you can cultivate up to 6 full plants for personal use. However, this will still need some time before retail sales begin.
Warren Buffett's favorite stock market indicator isn't alone in hinting stocks are due for a breather
The stock market is entering the danger zone, according to one often overlooked measure of equities valuation.
At its current level of 38 times, the Shiller P/E Ratio is nearing the peak (44 times) seen at the height just before the dot-com bust in 2000, writes strategists at SunDial Capital Research. Created by noted Yale professor Robert Shiller, the ratio is seen as better than the traditional P/E ratio as it adjusts for inflation.
Historically, a Shiller PE ratio sustained over 25 times has gone on to be a precursor for sizable pullbacks in the market as presented in the below chart by Sundial Capital Research.
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