VRTX - Why Biogen GW Pharmaceuticals and Vertex Pharmaceuticals Stocks Jumped Today
Shares of several biotechs jumped on Tuesday as the overall stock market rebounded from a major downturn yesterday on reports that a huge federal stimulus package could be in the works. Biogen (NASDAQ: BIIB) stock was up 9.3% as of 3:13 p.m. EDT. Shares of GW Pharmaceuticals (NASDAQ: GWPH) were rising 15% higher. Vertex Pharmaceuticals (NASDAQ: VRTX) stock was climbing 11.2%.
A federal stimulus package could help individuals and businesses ride out the rough patch the coronavirus outbreak is causing. It's perfectly understandable that investors cheered the news that the U.S. government could make a significant move sooner rather than later.
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