Diamonds and Dogs
Open sesame. Alibaba (BABA), the Chinese Amazon is up 5% not far from all-time highs following an upgrade and a $318 price target as profits and cash flow continue to improve as the Chinese economy gets back to more normal conditions. China's cloud market, now just an eighth of the size of its U.S. counterpart is closing the gap.
A dog with positive news. Biotech, Regeneron Pharma (REGN) is down 2% even though the company released data that their antibody cocktail is reducing viral levels and improved symptoms in non-hospitalized COVID-19 patients while also reducing the time to alleviate and recover from COVID-19 symptoms. The stock is up 50% year to date, so a pullback is understandable.
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