Why the Next Month Will Determine the Rest of the Year for Gilead's Stock
Shares of Gilead Sciences (NASDAQ: GILD) are up 17% so far this year, well ahead of the S&P 500, which is down 12%. But whether that trend continues and Gilead remains on that strong trajectory is still a question mark. There's a lot of potential for the stock to rise sharply in value or crash this year as how well the stock does this year will depend to a great degree on remdesivir.
Investors won't have to wait long to find out which direction Gilead's stock will go this year as the next month will set the stage for how the stock will perform from here on out.
How Gilead's stock will do this year will hinge on the success of remdesivir. There's a lot of hope that the drug can help treat patients with COVID-19 and not only prevent deaths, but also reduce recovery times as well, thereby reducing the load on hospitals.
Source Fool.com
