by winston » Tue Apr 28, 2020 9:49 pm
not vested
CONSUMERS AREN'T JUST STOCKING UP ON GROCERIES
Today's stock is hitting new highs as people prepare for isolation...
With more than 300 million people under shelter-in-place orders in the U.S., consumers are stocking up on goods. They're making sure that they're prepared if the lockdowns get extended longer than expected. We've seen this trend in groceries and cleaning products. And the same goes for prescriptions...
Eli Lilly (LLY) is a $155 billion pharmaceutical giant. It makes important drugs like Trulicity and Humalog (diabetes treatments), Alimta (lung cancer treatment), and Taltz (autoimmune-disease vaccines).
The COVID-19 pandemic has accelerated sales of these lifesaving medicines... In its first-quarter earnings report, CEO David Ricks said the company was seeing higher patient and supply chain purchasing as people stock up on the drugs they need. That contributed to a 15% jump in revenue in the quarter.
As you can see in today's chart, LLY has surged higher recently. The stock is up more than 50% from its October lows, and it just hit a new all-time high. As people rush to make sure all their needs are covered, this stock should continue higher...
Source: Daily Wealth
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