Dow futures turned higher Tuesday after Trump returned to the White House Monday evening despite only arriving at Walter Reed medical center on Friday. Most medical experts don’t see how Trump can safely go back to the White House as Covid-19 stays in our system for 14 days.
In the last episode of Mad Money, Jim Cramer said that the stock market has something for everyone as President Donald Trump was reportedly doing better, while Democratic challenger Joe Biden continues to widen his lead in the polls. That sent many different sectors rallying, even if they typically wouldn’t trade in tandem.
TheStreet’s Katherine Ross and Cramer are on Street Lightning talking about Regeneron stock after the Pharmaceuticals company new deal, the Bristol Meyers deal, and renewed hopes over the stimulus package.
Regeneron Stock: Buy or Sell?
Regeneron Pharmaceuticals Inc. (REGN) – Get Report shares jumped higher Monday amid speculation the drugmaker could soon receive Emergency Use Authority from the Food & Drug Administration after its coronavirus treatment was given to President Donald Trump.
Trump’s doctors said over the weekend that he received an infusion of Regeneron’s dual antibody treatment for COVID-19 after testing positive for the virus on Thursday.
He likes Regeneron stock but tells investors not to buy it now. Cramers says that buying it now would be late and “idiotic.”
Cramer believes that therapeutics are “the way out of this virus” not vaccine, adding that people don’t believe in vaccines anymore because they believe that Trump corrupted the deal with the FDA.
Bristol Meyers Stock: Buy or Sell?
Bristol-Myers Squibb Co (BMY) – Get Report. agreed on Monday to buy drugmaker MyoKardia Inc. (MYOK) – Get Report, which makes the experimental heart treatment Mavacamten, for around $13.1 billion.