Black Friday saw the market in red and most stocks were on discount. Is it really on sales or is it due to the Omicron news that surfaced yesterday? Well I guess we can only tell more when the market opens on Cyber Monday.
Let's say yesterday red was due to the new covid variant, will we see a repeat of what happened to the stocks during last year situation where stocks like Zoom and Peloton fly high and traditional travel and airline related stock plunge real deep down the graph. Below are some stocks reaction to the news yesterday.
BOOM
$Zoom(ZM)$It was on a steady decline as the covid situation took a turn for the better until news of new variant came out yesterday and pull it up. Fear of shutdowns and more Zoom meetings at home maybe?
Vaccines manufacturers were on the up as well. New variant new business, Moderna or Pfizer. Take your pick.
Tech stocks - retail investors favourite sector. Tech stocks have been quite hot or should I say too hot in recent 2 months. Cool down a bit for the last 2 weeks but with this news who knows, more money might be pour into this sector to keep it brewing for perhaps a longer period of time.
DOOM
Travel related companies stocks such as airline, hotels and hospitality. Just when we thought Covid situation is improving and people going back to more normal activities, this happens. If this variant causes wide spread again, travel restrictions put into action. This sector will be affected badly again.
Let's just hope this new variant don't wreck too much havoc. Stay safe everyone.
What do you think will happen to your favourite stocks or any view when the market opens on Monday?
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