Healthcare Sector Leads With Most 52-Week Lows, Including Gilead

Monday, October 26, 2020 2:27 PM | Neal Farmer

During trading Monday, 19 stocks traded to a 52-week high, while 23 stocks bottomed out at new 52-week lows. The S&P 500 is down -2.25% on the day so far. Stocks are continuing to fall Monday as new COVID-19 cases set new highs this weekend with daily new cases rising above 80,000 and hopes for stimulus before the election pretty much gone. Healthcare stocks have the most 52-week highs and lows today with certain industries benefitting from more cases as investors allocate resources into the sector that will only see more "demand" with higher case counts. Real Estate is understandably tied with Healthcare for most lows as higher case counts leads to more bearish projections of individuals and businesses being unable to pay housing bills.

The following stocks traded to 52-week highs: ALGN, BPMC, CBAY, CHGG, DLTH, DNKN, EXAS, FOLD, IDXX, LOB, MRTX, MSTR, MXL, OPRX, PINS, PRSC, SNAP, TWTR, TYL, VRTS

The following Stocks traded to 52-week lows: ASC, BTU, CCOI, CORR, CRCQQ, CXW, DSSI, FARM, FCFS, FRO, GILD, INSW, MNKKQ, NOG, PDM, PGRE, REPH, REV, STNG, TCDA, TK, TLRDQ, TNK, HAYN, STFC, TH

Healthcare: GILD, MNKKQ, REPH, TCDA

Healthcare stocks dominated our list of highs today with 4 out of the 19 total stocks that reached their high coming from the Healthcare sector. The Healthcare sector is up -1.66% so far Monday while the S&P 500 is down -2.25%. Healthcare was tied for the most lows during today's market crash. Healthcare is outperforming the market however and actually had the most highs of any sector as well. The highs are understandable with new COVID-19 cases hitting all time highs and investors moving assets into the sector most liekly to gain from the pandemic. Gilead (GILD) is the biggest healthcare company to hit its low with other companies seemingly ahead of Gilead in the race for a coronavirus cure. Gilead's business goes far beyond its coronavirus vaccine research but the stock was driven up by investors speculating on companies that would win the race for a vaccine.

Real Estate: CORR, CXW, PDM, PGRE

The Real Estate sector makes up the majority of our 52-week lows, as 4 out of our 23 lows comes from the Real Estate sector. The Real Estate sector is down -1.69% so far Monday while the S&P 500 -2.25% Real Estate stocks tied with Healthcare for the most lows as surging COVID cases leads to pessimism on the short term outlook of real estate. Investors are likely worried that higher cases can lead to new shutdowns and/or stalled growth that will result in people and businesses being unable to pay rent or mortgage..

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