Why Editas Medicine Stock Is Bouncing Back Today
It's been a tough year for Editas Medicine (NASDAQ: EDIT) so far. As of the market close on Monday, the stock was down 42%. But shares of Editas were rebounding by 8.2% as of 11:25 a.m. EST on Tuesday. The biotech didn't report any news. Instead, Editas' share price was buoyed by the overall stock market resurgence.
Should investors read a lot into today's gain? Probably not.
The stock market is enjoying a good day in large part because of anticipation that the $1.9 trillion stimulus bill that's being voted on in the U.S. House of Representatives today will help boost the economy. And the legislation probably will spur economic activity.
Source Fool.com
