Has Inovio Stock Peaked?
Even as the market plunged due to the economic fallout from the coronavirus pandemic, some companies managed to perform well. One of these was Inovio Pharmaceuticals (NASDAQ: INO), a biotech whose efforts to develop a vaccine for the novel coronavirus did not go unnoticed. Inovio famously claimed to have created its vaccine, INO-4800, in a mere three hours on Jan. 10, after Chinese researchers publicly released the genetic sequence of the SARS-CoV-2 virus that causes COVID-19.
Inovio's stock soared by 860.3% between then and June 29, but alas, what goes up must come down, and the company's shares have been on a downward spiral since June 30. Sure, Inovio is still up by an impressive 197.9% year to date -- compared to gains of 6.9% for the S&P 500. And given its recent woes, it might be wise for investors to cash in on some profits while they still can. However, if Inovio can recover and start climbing again -- perhaps even eclipsing its early 2020 gains -- it might be even wiser to hold on to its shares. Which of these scenarios is more likely?
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Source Fool.com
