The Stock Market Finished The Week with Mixed Results As Inflation Fears and Speculation Over the Possible Fed's Responses Continued
The stock market indices finished the week with mixed results. It turned out to be a good start to the day. However, by the time the market closed, both the Nasdaq index and the S&P 500 index fell into the red zone. Meanwhile, the Dow hovered above zero, but only barely.
The economic indicator we can discuss today is the existing home sales drop for the third straight month, according to the National Home Builders Association. Home prices have hit an all-time high. It seems higher demand by first-time buyers combined with lower mortgage rates and shortages in lumber and other commodities is expected to continue for a while and make the home prices continue to rise as they have done so in the last few months.
Virgin Galactic (SPCE) Stock Jumped More Than 7% After The Company Resumed Its Previously Delayed Test Flights Plan
Shares of Virgin Galactic (SPCE) were up more than 7% today after another green day yesterday. The company announced it would resume its test flight which has been delayed a few times in the last couple of months.
The stock price is quite far from its all-time high of $62.80 shares. But, if it manages to continue with test flights and ultimately launch its commercial flights, the stock price could rally quite drastically.
I own a few shares, and I'm glad I held them despite the recent drops. Let me know in the comments if you end up selling your shares.
Introducing The New Telemedicine List of Stocks
We just released a new list of stocks on Stock Card. This new collection gives you a list of 61 companies that are shaping the future of Telemedicine.
After the COVID-19 pandemic hit, it was clear that medical services would have to transform the way they do business. To overcome the challenges, health care companies started to shift their business processes to allow servicing their patients. In a way, the tragedy of the COVID-19 pandemic gave birth to and accelerated the adoption of a new industry, the Telemedicine industry. Now that they have invested in the infrastructure required for telemedicine, it is a lot more efficient to continue with virtual visits when an in-person visit isn't essential.
Take CVS (CVS) as an example. The company offers a whole spectrum of telehealth services to patients and physicians. If you choose to stay in the comfort of your home, you can schedule appointments with licensed doctors. Virtual visits are available at an affordable price for those who decide to stay in. Its services also include telephone-only consultations with providers, evaluation, diagnosis, treatment, and data communication between all parties.
According to Fortune Business Insights, the Telemedicine industry is expected to grow by 25% per year and shape a $400 billion market.
There is one more reason to invest in telemedicine stocks now: The market has a negative sentiment toward such companies in light of the reopening. However, many market participants miss seeing the financial incentives for health care providers to
encourage virtual services now that they have invested in the infrastructure and know how efficient their daily processes could be.
One study has estimated "diverting patients from emergency departments with telemedicine can save more than $1,500 per visit" for the hospital. Health care is a for-profit industry in the U.S. and many other countries, and no one can argue with saving money, especially in healthcare.
To get the list of telemedicine stocks, type in telemedicine in the search bar the next time you log in to your Stock Card account.
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