SE - Why Livongo Health Sea Limited and Fastly Stock All Fell Today
Livongo Health (NASDAQ: LVGO), Sea Limited (NYSE: SE), and Fastly (NYSE: FSLY) were among the losers today, as their shares fell along with the broader market on fears of an expanding coronavirus outbreak around the world and in the U.S.
Reported cases in Florida hit an all-time high today with more than 5,500 new cases, and New York, New Jersey, and Connecticut implemented a mandatory two-week quarantine on visitors from states now experiencing severe outbreaks, including much of the South.
The news comes as the virus continues to spread rapidly in other parts of the world, including Latin America, South Asia, and the Middle East, undercutting the narrative that the global economy was recovering from the pandemic. The International Monetary Fund also slashed its GDP growth expectations for the year, forecasting a 4.9% decline, and said the economy would recover more slowly than expected.