Cramer says traders mustn’t wager in opposition to science
CNBC’s Jim Cramer stated Friday he didn’t assume traders have been correctly factoring within the probability a profitable antiviral remedy for COVID-19 is developed.
“Is anybody even considering anymore that there’s something happening at any drug firm that really could have an antiviral?” Cramer stated on “Squawk on the Street.” “I’ve simply been marveling that folks assume our drug firms do not have good scientists. … You are betting in opposition to science in case you’re betting long-term quick right here.”
Cramer stated the market is poised to take off for actual if an efficient remedy for COVID-19 is found.
“What occurs if we really discover an antiviral that will get individuals out of the hospital? May you think about the place this market is with this liquidity?” Cramer stated.
Cramer’s feedback got here because the Dow Jones Industrial Average tumbled greater than 800 factors on Friday, persevering with the inventory market’s stretch of maximum volatility in response to the coronavirus pandemic.
The Dow on Thursday soared…