QDEL - 2 Solid Coronavirus Testing Stocks to Buy Now
The U.S. stock market reported phenomenal gains in November 2020 -- the S&P 500 rose 10% over the month. While COVID-19 vaccine players have become the stars of the market, once-famous COVID-19 testing stocks have tumbled. But the belief that the rollout of effective COVID-19 vaccines will have an immediate impact on disease prevalence and the need for COVID-19 testing is far from realistic. According to Serum Institute of India, the largest vaccine producer in the world by volume, there will not be enough COVID-19 vaccines for everyone in the world until the end of 2024. In addition to challenges related to rapid ramp-up in vaccine production, there are also difficulties associated with storage and distribution of these vaccines.
COVID-19 diagnostic tests will continue to be relevant for many more years to come. In fact, President-elect Joe Biden's plan to tackle COVID-19 includes ramping up testing and tracing as one of his seven key initiatives.
Healthcare investors looking to initiate a position in COVID-19 testing stocks may want to look into Quidel Corporation (NASDAQ: QDEL) and Fulgent Genetics (NASDAQ: FLGT) .
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2 Solid Coronavirus Testing Stocks to Buy Now