12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500
drops 34% from the peak level seen on Feb 19, 2020, as COVID-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid Saudi-led price war
Since 3/24/2020: S&P 500
recovers 80% from the lows seen on Mar 23, 2020, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
In contrast, here’s how CNK stock and the broader market performed during the 2007/2008 crisis.
Up more than 3x since March, we believe
First Solar stock (NASDAQ: FSLR) could see significant downside. First Solar stock is up 72% so far this year. It traded at $58 in February 2020 – just before the outbreak of coronavirus – and is currently 65% above that level, as well. Further, with solar module and system demand still not back up to pre-Covid levels, demand for the company’s products will remain low in the near to medium term, and the stock has the potential to drop around 20% to levels below $80. Our conclusion is based on our comparative analysis of
12/12/2019: Coronavirus cases first reported in China