Monkeypox is making the rounds.
The World Health Organization (WHO) just declared monkeypox a global health emergency. According to CNBC, “More than 16,000 cases of monkeypox have been reported across more than 70 countries so far this year, and the number of confirmed infections rose 77% from late June through early July, according to WHO data.”
“We have an outbreak that has spread around the world rapidly, through new modes of transmission, about which we understand too little. For all of these reasons, I have decided that the global monkeypox outbreak represents a public health emergency of international concern,” WHO Director General Tedros Adhanom Ghebreyesus added.
That being said, investors may want to pay attention to vaccine stocks.
Look at Siga Technologies (SIGA), for example.
At the moment, the stock is up about $2.72 on a volume spike to 19.8 million shares, as compared to daily average volume of 11.47 million. According to Barron’s, “The company makes an antiviral called TPOXX that is approved in the European Union for use against monkeypox. The U.S. has stockpiled the drug even while it has yet to be approved.”
Or, look at Bavarian Nordic (BVNRY).
The stock is up about 10% on a volume spike to 255,443 shares, as compared to daily average volume of 85,890. BAVA, which trades in Copenhagen, is up $14.70 on a volume spike to about 2.4 million shares, as compared to daily average volume of 1.01 million shares. The company has a smallpox vaccine that has been approved in the U.S. for use against monkeypox.
There’s also Emergent Biosolutions (EBS), which has a smallpox vaccine that could be used as a preventative for monkeypox. Shares of EBS are up $1.40 on the news, as well.
While these stocks are pushing aggressively higher on fear, remember, they could come down just as fast once the news dies off.