Entering November, there was optimism as Covid-19 case counts were dropping with the Delta variant surge ending. Of course, the Omicron variant is another wildcard. Given that case counts are likely to rise over the next month, investors should consider buying coronavirus stocks like Abbott Laboratories (NYSE:ABT), Moderna (NASDAQ:MRNA), and Pfizer (NYSE:PFE).Like the villain in a bad horror movie, the pandemic seems to never go away. Entering November, there was optimism as Covid-19 case counts were dropping with the Delta variant surge ending. Additionally, vaccination rates were trending higher, although at a slower than ideal pace.
Now, the situation has certainly taken a turn for the worse. The seven-day moving average of new cases was around 71,000 in early November. Currently, it’s at 119,000. One factor is that viruses spread more and faster in the winter months. Further, measures of travel volume are at about 90% of 2019 levels, and people are taking less precaution in terms of masking and social distancing. It’s also clear that the vaccine is protecting against the worst effects of the virus but not necessarily in terms of spread.
Of course, the Omicron variant is another wildcard. So far, it’s seeming to be more contagious but less virulent which is a positive development. Additionally, the booster shot seems to provide protection. Given that case counts are likely to rise over the next month, investors should consider buying coronavirus stocks like Abbott Laboratories (ABT), Moderna (MRNA), and Pfizer (PFE).