Speculative Swine Flu Stocks Make Last Stand (NVAX, GNBT, BCRX, PURE, VICL, VIVO, AVII)
It looks like everyone has figured out that swine flu was more of a media pandemic rather than a disease or viral pandemic. Had this been November as flu season was starting, that might have been a bigger deal. We…
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It looks like everyone has figured out that swine flu was more of a media pandemic rather than a disease or viral pandemic. Had this been November as flu season was starting, that might have been a bigger deal. We have seen substantial pullbacks after the massive gains seen in the speculative swine flu stocks. Novavax, Inc. (NASDAQ: NVAX), Generex Biotechnology Corp. (NASDAQ: GNBT), BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX), Pure Bioscience (NASDAQ: PURE), Vical Inc (NASDAQ: VICL), Meridian Bioscience Inc. (NASDAQ: VIVO), and AVI BioPharma Inc. (NASDAQ: AVII) have all begun their overbought roll-over.
Novavax, Inc. (NVAX) gained almost 15% to $1.93 today, but this is down about half from last week’s highs of $3.88; shares were at $0.81 before the swine flu scare came out. Today’s excitement was on a second Phase II enrollment for flu vaccine studies.
Generex Biotechnology Corp. (NASDAQ: GNBT) was up 18% today at $0.438; shares peaked at $0.70 last week and were at $0.27 before the swine flu scare came out.
BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) rose 14% to $3.24; shares peaked at $4.89 last week and were at $1.75 before the swine flu scare came out.
Pure Bioscience (NASDAQ: PURE) was down 1.2% at $2,40; shares peaked at $3.19 last week and were at $1.75 before the swine flu scare came out.
Vical Inc (NASDAQ: VICL) fell by 7% to $2.09; shares peaked at $3.30 last week and were at $2.40 before the swine flu scare came out.
Meridian Bioscience Inc. (NASDAQ: VIVO) were up barely above flat at $17.69; shares peaked at $18.30 last week and were at $16.13 before the swine flu scare came out.
AVI BioPharma Inc. (NASDAQ: AVII) was flat at $0.76; shares peaked at $1.29 last week and were at $0.74 before the swine flu scare came out.
Jon C. Ogg
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
