Several beaten-down meme stocks were getting some love as investors decided that Tuesday was a good day for taking on risk.
Reduced concern for the impact of the Omicron variant of the coronavirus lifted stocks higher on Monday. The effect appeared to be continuing in Tuesday's premarket trading.
Despite Friday's sharp drop in equity prices, there were a couple of winners. Premarket trading indicated a higher open, with crude oil up well over 5%.
Friday's shortened trading session was dominated by the news of a new coronavirus variant and its impact on investors.
An FDA directive has hammered a coronavirus vaccine maker Friday morning as a new variant of the infection is discovered in South Africa.
A strong October jobs report lit a fire under traders in Friday's premarket. One of Thursday's big movers added a bit more Friday morning and another was dropping after reporting earnings.
Why does a coronavirus vaccine maker's stock drop more than 20% after the vaccine is approved for use? It happened Wednesday.