- Gilead Sciences stock was one of just a handful of S&P (companies in the green on Monday.
- Investors are hopeful that remdesivir could be a treatment for the coronavirus
- GILD’s bounce is just a taste of the upside it could experience if it develops an effective treatment.
As most of the US stock market flounders amid a massive global flight from risk assets , one stock briefly led the S&P 552 with an astonishing 3.4% rally. Gilead Sciences (NASDAQ: GILD) defied the coronavirus slump after the World Health Organization praised its remdesivir drug as a leading candidate to help fight the global health crisis.
Gilead Sciences Outperforms S&P on Coronavirus Treatment Hopes
With all three of the major US stock market indices down more than 3% , Monday was a terrible day for Wall Street bulls.
For those Investors brave enough to dive into the biotech wars to find a coronavirus treatment, there was some gold to be found. Gilead Sciences has emerged as the front runner in providing a drug to combat the disease,
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