Why Lakeland Industries, Alpha Pro Tech, and Vir Biotechnology Briefly Skyrocketed and Crashed Today
Investors in Lakeland Industries (NASDAQ: LAKE), Alpha Pro Tech (NYSEMKT: APT), and Vir Biotechnology (NASDAQ: VIR) are experiencing a wild end to the trading week. Shares of these companies rose as much as 40%, 65%, and 20%, respectively, in early-morning trading on Friday. However, all three of them have since reversed course and have come crashing back down to earth. At their lowest points, they were down 13%, 34%, and 36%, respectively.
As of 2:57 p.m. EST, shares of Lakeland Industries up about 1% while shares of Alpha Pro Tech and Vir Biotechnology were down 9% and 30%, respectively.
You're probably aware that fears of the spread of the COVID-19 (the illness caused by a novel coronavirus) are wreaking havoc on the public market this week. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite have all dropped more than 10% from their recent highs in the last five days. That's a remarkably big move in such a short period of time.
Source Fool.com
