Tesla stock continues to show an increase over March levels. Although the stock took a dip in sales in China of 64%, sales in the United States rose by 9.8% and are still holding well. In spite of a political battle with local officials, resulting in Elon Musk promising to move his manufacturing of the Tesla vehicles out of state, his plant in Fremont is currently making cars.
All of his workers at the plant have been recalled, after shutting down on March 23rd. About 200 vehicles have been made and Musk says that social distancing and safe work practices are in place to minimize the risk of infection.
Tyson and Coronavirus
The Tyson meat processing plants (15 of them) have revealed that they have 4,585 cases of coronavirus in their various plants. There also have been 18 deaths. The company has not yet given any of its employees full paid sick leave. It is a case where the employer is blaming the employees for the large outbreaks and vice versa. It does offer to pay 60% of employees pay for short-term disability.
After seeking for volunteers to be infected to speed up the development of a vaccine for coronavirus, about 14,000 people have volunteered. Although not yet ready for human testing, the “human challenge trial” idea is ethically controversial and results cannot be guaranteed.
Other companies are developing tests that are going to be produced on a massive scale. One test by the Quidel Corporation (QDEL) is being looked at as a “game changer.” The test has been approved by the FDA for emergency use authorization and can produce results in just five minutes. It has an 85% accuracy level. After receiving FDA approval, the stock rose 22%.
Stock Market Gainers
Some pharmaceutical companies are showing rather large gains in the stock market. An Israeli company, Cellect Biotechnology, has announced that it has had some success in the transplantation of stem cells. FDA-approval has been given for the company to work with the Washington University. After the announcement, its stock rose 95%.
Myokardia Inc. stock rose by 58.62% on Monday, closing at $96.90. MediaCo Holding Inc. stock closed at $5.60 per share after rising 49.33%. Novavax Inc. gained in value by 56.30% to close the day at $29.26. The company is researching vaccines for pregnant women and has received research grants from the Gates Foundation. Aptevo Therapeutics Inc. gained by 21.62% to close at $7.65. Gilead Sciences Inc. continues to gain in value, having gained by 4.00%, closing at $80.55.
Time for Bitcoin Halving
Everyone that has invested in Bitcoin is wondering what will happen after it halves once again, which takes place on May 12th. Investors are looking to buy – if the deal is right. Bitcoin has risen in value as everyone watches the value and what happens. The halving occurs every four years and it cuts the value gained from Bitcoin mining in half – which also reduces its value. At the close of the day on Monday, the value was $8,606.24, having dropped in value by 2.10%. Bitcoin can be purchased around the clock.
After sitting idle during much of the coronavirus crisis, Carnival Lines is planning on some cruises in August. Of course, no one knows where the U.S. will be in terms of coronavirus, but people are buying tickets like there is not a possibility of a cancellation. Tickets are being bought at twice the rate that they were this time last year – on a contingency basis. Only eight of their ships – out of 109 – will be lined up for cruises. Ships are planning on leaving from Galveston, Texas, Miami and Port Canaveral in Florida.