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Steve Muchoki



Articles by Steve Muchoki

Disney (DIS) Stock Down 1.1%, Analyst Says Parks Attendance May Need 2 Years to Normalize

April 8, 2020

Disney (DIS) stock price is falling. Wells Fargo analyst Steven Cahall stated that the studio’s theme parks division will need a couple of years to return to normal business.The Walt Disney business has been seriously hit by the stay at home orders caused by the ongoing coronavirus. The Walt Disney Company (NYSE: DIS) stock fell 1.2% in after trading hours on Tuesday and is 1.1% down now, after Wells Fargo analyst Steven Cahall downgraded it, claiming that the Disney parks attendance could take up to two years to normalize.Cahall wrote:“We don’t think parks can get back to anything close to full capacity until testing and/or vaccines are far more ubiquitous. We see the limiting factor as health-care technology as assets like Walt Disney World will either need to operate with social

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Zoom (ZM) Stock Lost 7.48% Yesterday as Company Is Sued Due to Privacy and Security Flaws

April 8, 2020

Zoom Video Communications (ZM) stock price lost $9.19 approximately 7.48% on April 8. The fall is being attributed to the class-action lawsuit. Zoom is being sued for not disclosing privacy security flaws.Since the outbreak of coronavirus, many people got to adapt to working remotely. Zoom Video Communications Inc (NASDAQ: ZM) and its stock price have been on the rise. However, the rally did not have much of the fuel as the bulls seem to be already exhausted. It all began around March 20, when the company began battling arising issues of privacy and security flaws.The market chart formed a strong resistance level at $160, where the stock bounced to the downward trend on a free fall. Yesterday the ZM stock price was at $113.71. Having shed $9.19 from the previous day’s high, which

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Ripple-Compatible Chip Development Is Said to Be Sponsored by U.S. Navy 

April 7, 2020

Ripple and XRP are in the spotlight once again after the news that the U.S. Navy is hiring a firm to create implantable microchips that would be compatible with Ripple’s blockchain.It was a huge breakthrough for Ripple and the XRP community after the company’s blockchain won a big boost from the U.S. Navy. In an interview, the president of Solari Inc., Catherine Austin Fitts, said a year ago the U.S. Navy had hired a Danish tech company to develop an implantable microchip and make it compatible with the Ripple blockchain.The news coincided with a time when the crypto market is on the upward move after free-falling the first quarter. XRP has risen 15.32% in the past week and jumped a whopping 6.80% in the past 24 hours. The market cap is slightly above $20 billion, with the average XRP

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Moderna (MRNA) Stock Rose 4.94% on Friday, Moderna CEO Stephane Bancel Becomes Billionaire

April 6, 2020

On Friday, Moderna (MRNA) stock rose by 4.94% breaking out the $32 resistance level. Clinching above $34 has helped Moderna CEO Stephane Bancel to join the list of billionaires.As the war against the novel coronavirus intensifies all over the world, a lot of people are eying on the pharmaceutical companies spearheading the development of vaccines. Moderna Inc (NASDAQ: MRNA) stock continues enjoying a huge backing from investors, as the company pushes its vaccine to human testing. As a result, MRNA stock jumped 4.94% to clinch above a strong resistance level at $32, which has played out for the past two months. Today it the pre-market, it has gained another 0.86% to trade at $35.15.Most investors are betting long on Moderna stock, leaving the company with a lot of pressure of delivering a

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Reasons Why Crypto Exchange Switchere Is Taking Market by Storm

April 3, 2020

Switchere, a new player in the crypto world, is actively developing in Europe where it has a huge customer base and penetrating the Asian market as well.A new crypto exchange by the name Switchere is not only developing fast but also gaining a huge customer base in Europe. Although entering a market with huge competition, it has grown fast to see its services reach the Asian market, which has a very large number of crypto enthusiasts.The crypto exchange is offering transparency and competitive crypto exchange which its customers have been enjoying. With a number of programs to give back to the loyal customers, the management is working towards seeing the crypto space grow to reach all people of all nature.The company’s operations are licensed where it guarantees its customers legal

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Saudi Arabia Calls for Urgent OPEC+ Meeting to Stabilize Global Oil Prices

April 2, 2020

Saudi Arabia has called for an urgent meeting with all the OPEC members and the non-OPEC oil producers to stabilize the global oil prices. After the news, the oil price jumped almost 25%.The Saudi Arabia government has called for an urgent meeting of OPEC and a group of non-OPEC countries to try and reach a fair deal to restore balance to the oil prices. The news which was conveyed through the state news agency SPA has been revealed today on Thursday. As a result, oil prices jumped almost 25%.Initially, the oil prices had surged 10% after the U.S. President Donald Trump said he expects Saudi Arabia and Russia to come to a common agreement about the oil price war. Oil prices have been hit hard by the lack of agreement between the two oil giant producers, and more to it, the low demand

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U.S. Oil Jumps Over 20% on Possible End to Saudi Arabia-Russia Price War

April 2, 2020

U.S. oil prices jumped 10% to clinch above $22 per barrel on Thursday after President Donald Trump said the oil price tag war between Russia and Saudi Arabia may come to its end soon.After closing the first quarter of 2020 on the worst fall, U.S. oil prices have shown signs of recovering amid the coronavirus crisis. This is after the United States President Donald Trump said that he expects Russia and Saudi Arabia to come to a common agreement on their differences.Saudi Arabia, an OPEC member, has been pushing the Russians, which is not an OPEC member, to cut daily oil production in order to stabilize the price. However, since the Russians are independent, they opted not to comply with the request. Instead, the Russians raised their daily oil production with over a million BPD.As a result,

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Verizon (VZ) Stock Down 1.38% Despite Upgrade to ‘Conviction Buy’ by Goldman Sachs

April 1, 2020

Verizon stock is falling today despite the upgrade announcement by Goldman Sachs. Goldman Sachs added VZ stock to its ‘Conviction Buy’ list, explaining that the stock offers investors the most attractive combination of total returns and risks.Verizon Communications Inc (NYSE: VZ) stock dropped nearly 1.5% after the market opened on Wednesday, April 1 to trade $52.94. The drop was in contrast with most expectations, as Goldman Sachs had upgraded it to its ‘Conviction Buy’ list. The group argued that the VZ stock offers investors the most attractive combination of total return and risk, thanks to the stability of its wireless business.Goldman Sachs Group Inc has been the leading global investment banking, securities and investment management firm, which has been providing a wide range of

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Marriott (MAR) Stock Down 6.76% Now as 5.2M Guests’ Personal Info Was Likely Breached

April 1, 2020

Marriott International (MAR) stock is falling as the company had been hit by its worst customer data breach.Marriott International Inc (NASDAQ: MAR) stock price is down 6.76% after falling 5% in the pre-market. It happened after the company announced on Tuesday it had suffered a massive data breach. The American multinational diversified hospitality company is well known for managing the different line of hotels and lodging facilities. At the time of writing, Marriott (MAR) stock is trading at $69.75. The company’s market cap is 22.61 billion.Marriott Get HackedAccording to the company, hackers were able to compromise sensitive information of almost 5.2 million people.However, the hack was not as devastating as compared to 2018 one, which ended up with almost 500 million customers’ info

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Bitcoin Price Is Around $6,300 as Toilet Paper Token Price Rose by 1,123.97%

April 1, 2020

Bitcoin price has been consolidating above $6,000 and below $6,800 in the past two weeks, as the stock market continues shedding. Toilet Paper Token, which is said to be sold out, rose by a whopping 1,123.97%Bitcoin has been trading at around $6,300 for the past few days. The crypto asset is experiencing a significant resistance at that level to breakthrough and trade above $7,000 level, where it began in January. As the coronavirus crisis continues pushing the market at large in a turf corner, Bitcoin seems to be holding stronger the urge to fall again.The price drastically fell when the United States banned air travel with most European countries and the price of crude oil tumbled. Investors rushed in a sell-off, fearing a market crisis that could trigger a recession. With it, it has

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Ford Stock Up 1.39% Now, Company Plans to Make 50,000 GE Ventilators to Fight Coronavirus

March 31, 2020

Ford (F) stock price is unstable while the company is preparing to produce 50,000 GE ventilators in collaboration with Generic Electric to help coronavirus patients.Ford Motor Company (NYSE: F) stock fell 3.08% on March 30, to trade at $5 per stock. But today it is trading with a 1.39% rise at $5.10. As with most U.S. stock markets at the moment, Ford (F) stock has recovered from the previous free fall thanks to the coronavirus stimulus package meant to cushion the market from further tumbling. Ford stock has been falling continuously since the onset of the coronavirus outbreak. As a result, it has fallen almost to retest the 2008 market crash, where it traded at around $2. However, there are hopes that the stocks will recover and retest the all-time high in the near future after the

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FB Stock Rose 5.84% on Monday, Facebook Shares Expected to Go Up Nearly 30%

March 31, 2020

Facebook (FB) jumped 5.84%, approximately $9.16 yesterday, In the pre-market, it is still gaining and has reached $166,20. JPMorgan and JMP Securities have reduced their price target of the stock to $215, which reciprocates to approximately 30% gains.Facebook Inc (NASDAQ: FB) stock has been on the winning side for the past two weeks, thanks to fundamentals that are cushioning its stock from the coronavirus pandemic. As of March 30, 16:26 EDT, the stock had pushed higher 5.84% and reached $165,95. Whereby, at the time of reporting, it had managed to clinch above $166, which in the pre-market (+0.15%) acted as a short term resistance level.Facebook (FB) Stock Price and Coronavirus RelationAccording to TheFly.com, JPMorgan and JMP Securities have significantly reduced their target price on

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Microsoft (MSFT) Shares Rise 6.87%, Microsoft Cloud Services See 775% Spike

March 30, 2020

Microsoft (MSFT) stock rose by over 6% to trade at $159.99 on March 30. The spike is attributed to a 775% rise in the Microsoft Cloud services usage, as more people stay at home amidst coronavirus outbreak.Microsoft Corporation (NASDAQ: MSFT) shares experienced a sharp uptick of 6.87% in the late European trading hours, to clinch at $159.99. The spike in stock is being attributed to the rise in usage of its services as the coronavirus outbreak pushes people to stay at home and find constructive things to keep them busy.Microsoft Reports Rise in Service UsageOn Saturday, the company reported that it had experienced a 775% usage increase for its services. The services which saw a rise in users include Microsoft Teams, Power BI, and also Windows Virtual Desktop. According to the report, the

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EasyJet Grounds Entire Fleet as EZJ Stock Dips Another 8%

March 30, 2020

As a result of the ongoing coronavirus pandemic, EasyJet has announced that it has grounded its entire fleet of more than 300 aircraft. EasyJet stock market has lost another 8% after the announcement amidst internal disagreements.EasyJet plc (LON: EZJ), a British low-cost airline group that is headquartered at London Luton Airport, has today announced that it will ground its entire fleet of more than 300 aircraft. The airline is responding to the ongoing travel restriction caused by the coronavirus pandemic. As a result, EasyJet (EZJ) stock has dipped another 8% to trade at 546 GBX.EasyJet Fleet Grounded while EZJ Stock Price Is FallingIn a press statement, the company said, ‘there can be no certainty of the date for restarting commercial flights.’ The company has now put its entire cabin

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Abbott Laboratories Unveils 5-minute Coronavirus Test, ABT Stock Rises 2.21% After Hours

March 28, 2020

Abbott Laboratories gets FDA approval on its coronavirus test m2000 RealTime System, which takes a 5-minute minimum to get the results. ABT stock rose nearly 2% after hours to trade around $76 though on Monday its price was $62.Abbott Laboratories (NYSE: ABT) announced on Friday that it has received the approval of its rapid COVID-19 test from the U.S. Food and Drug Administration. According to the company, the molecular point-of-care test will be run with their portable called ID now. This will enable health care workers to test for coronavirus in a person within five minutes, and besides, they will be in a position to determine a negative result in less than thirteen minutes.Though it closed yesterday with a 1.65% fall, Abbott (ABT) stock drastically rose from the lows by about 2% to

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AAPL Stock Rose 5% Yesterday, Falls 2.65% Today, Apple Testing AR/VR Headset

March 27, 2020

Apple (AAPL) stock rose by over 5% yesterday but is falling today. The company is testing an AR/VR headset with HTC Vive-like controller that is set to be launched in 2021 or 2022.Apple Inc (NASDAQ: AAPL) stock rose by over 5% yesterday, March 26, approximately $12.92 to hit $258.92. As with many other U.S. stocks, Apple stock rebounded strongly after the coronavirus panic sell-off that resulted in the huge fall. The prices retested a once strong resistant zone back in 2018, however, this time it played out as a support level. Investors are optimistic about the company despite the setback on unveiling the much-awaited 5G iPhone 12.Apple stock has regained half of the lost profits and was looking to retest the all-time high if the current conditions prevail. The current bull rally has hit

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Microsoft Stock (MSFT) Rose 6% Yesterday, Company Announced Affirmed Networks Acquisition

March 27, 2020

Microsoft (MSFT) stock rose by over 6% yesterday after the company announced it had acquired Affirmed Networks to deliver new opportunities for a global 5G ecosystem. The FAANG stocks were on the winning side with a surge of 5% on average.Wall Street yesterday had many traders pocket some profits and also others cut some losses. This is after Microsoft Corporation (NASDAQ: MSFT) stock rose by over 6% in a day. The positive jump is being attributed to several fundamental factors that have happened during the week, especially as it nears the end.This has led to the shares pointing upwards, and possibly the weekly bar will close with a strong green candle. After retesting the support level that acted as support for the lows of the third quarter of 2019 at $133, the shares are now trading at

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Dow Futures Adds 800 Points Despite Jobless Claims Jumps Above 3 Million

March 26, 2020

U.S. stock market led by the Dow futures turned positive despite the negative data on jobless claims that shot to historic figures of more than 3 million. The number of jobless claims even surpassed the Great Recession peak of about 695,000.During the early trading hours on Thursday, the U.S. stock futures led by the Dow Jones showed signs of recovering, despite the initial release of jobless claims that recorded the worst in recent history. As a result of the ongoing coronavirus, layoffs from major companies have become the order, which has led to a sharp uptick in unemployment in the United States. Dow futures together with Nasdaq 100 slightly jumped higher, while the S&P 500 dropped to retest the previous day’s lows. However, at the time of writing, the S&P 500 was in the upward

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Bill Gates Explains How He Would Fight Coronavirus if He Were U.S. President

March 26, 2020

Bill Gates, Microsoft сo-founder, shared his thoughts about the current state of the healthcare system and ways to fight coronavirus. He explained what measures he would implement if he were the U.S. president.Although not a one-man show, coronavirus is proving problematic to many nations, and a strict leader needed to keep people safe. One man who has been at the forefront of coronavirus pandemic outbreak in the world is none other than Microsoft co-founder and philanthropist Bill Gates. In his recent sentiments made during a Ted Talk, he highlighted some of the things he thinks if he were the president he would have given priority to fight coronavirus.Less than two weeks ago, he announced that he has left the Microsoft Board of Directors in order to focus on fighting coronavirus

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Why Zoom Video (ZM) Shares Fell Sharply on Tuesday but Started Rising Today

March 25, 2020

Zoom Video Communications (ZM) shares fell 15% to hit $135.18 on March 25. Although having risen over 100% in the past year, the sudden fall is being attributed to President Trump calling on businesses to resume. Today, ZM stock is up again.Zoom Video Communications Inc (NASDAQ: ZM) shares are among the stocks which have been defying the gravitational pull from the coronavirus pandemic. The company which offers remote conferencing services has seen an uptick in the use of its services, as more people get to opt to work remotely. With the rise in coronavirus spread, the fear is pushing people towards solitary confinements in their homes.Zoom Video shares have been on the rise for the better part of the year and also last year. It was a huge success after going public and being enlisted by

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Euro-Zone Economy Crashes on Coronavirus Shutdowns,Tokyo Olympics Postponed for 1 Year

March 24, 2020

The economy of the euro zone is being brought down on its knees in a historic measure due to the ongoing coronavirus outbreak. In response to the coronavirus pandemic, the Olympic Games in Tokyo have been pushed forward for another year.The coronavirus pandemic has not spared the giant euro-zone economy. According to a post by Bloomberg, the euro zone is sinking into the biggest economic crisis ever recorded in recent financial systems. As the authorities rush to implement precautionary measures meant to combat the novel coronavirus, businesses are left with no option other than closing their operations.In addition, the IHS Markit’s measure of private sector activities recorded the lowest ever level since the creation of the index. This dates back more than two decades ago when the

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Tesla (TSLA) Stock Up 1.49% Now as Tesla and GM to Produce Ventilators for Coronavirus Needs

March 23, 2020

Tesla (TSLA) stock is in the green now. Tesla, GM, and Ford have been given the go-ahead to ramp up the production of ventilators used in the treatment of coronavirus patients.Tesla Inc (NASDAQ: TSLA) stock is now trading at $433.91 which indicates a 1.49% growth. Previously, the stock closed at $427.53 after retesting the all-time lows. A closer look at the market chart on the higher time frame, the free fall might not be over for the electric auto car maker. The fall comes a time when the coronavirus is leveling up its gears on the spread in the United States.Go Ahead for Tesla and the Rest to Make VentilatorsAs a result of the high number of infected people and the fast rate of spreading of the virus, President Donald Trump asked General Motors Company (NYSE: GM), Ford Motor

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Johnson & Johnson (JNJ) Stock Down 2% Today, Coronavirus Vaccine Not Ready Until Year-End

March 23, 2020

Johnson & Johnson (NYSE: JNJ) stock lost 5.64% on Friday and is 2.33% down today. The company’s CEO Alex Gorsky reassured that the company will have important data by the end of the year to offer a coronavirus vaccine.In the race for the search of a coronavirus vaccine is an American multinational corporation, Johnson & Johnson (NYSE: JNJ). However, things are not all rosy for its stock market which has been falling for the past two months. As a result, all the gains made from late last year to early February have all been wiped out. The company is pulling all the resources and working with different related organizations to develop a vaccine to tame the coronavirus.The number of states affected by the virus has so far reached 50 including Washington DC. The number of confirmed cases is

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Bank of China Disqualifies Claims that Bitcoin Can Be Safe Haven

March 23, 2020

The Bank of China went to the WeChat platform to highlight its concerns about Bitcoin. In a long post titled “3.15 protection of financial consumption rights and interest”, the bank warns the public on the risks of investing in Bitcoin.In a series of posts on WeChat, the Bank of China vehemently disqualified claims that Bitcoin can be classified as a safe haven, due to its high volatility especially in this period of coronavirus outbreak. The post which was titled, ‘3.15 protection of financial consumption rights and interest’ clearly showed that the Bank is worried by the huge dominance of Bitcoin in the market.The Bank’s statement that was put in Chinese said:“First of all the amount of fraud transactions with bots are serious. The average turnover rate of the top three overseas

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Alibaba and Tencent Stocks Thrive amid Coronavirus, China Aims to Become Stabilizing Force

March 23, 2020

Alibaba and Tencent stocks indicate resilience amid the coronavirus stock market effect. China, the first country to be hit by the deadly coronavirus in early December, now aims to be a stabilizing force in the global market.Coronavirus has almost become the order of the day in mainstream media since it was first reported in Wuhan, China. The virus has pushed beyond the ground zero to infect countries almost in all continents. As a result, it’s not only the human health status that has been adversely affected but also the stock market at large, since it has experienced the worst sell-off in recent times. With the number of those infected and the death toll rising, the volatility on the stock market is expected to continue. However, the volatility and recession possibility are not gnarling

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At Least 20 Coronavirus Vaccines Are in Progress Globally, WHO Officials Confirm

March 22, 2020

As the search for COVID-19 vaccines intensifies, there are at least 20 coronavirus vaccines in the pipeline. However, Gilead Sciences (GILD) and Moderna (MRNA), the stocks of the leaders in the race, tumbled as the week came to the end.Coronavirus alias COVID-19 is the virus that has taken the humankind hostage for the past two months. It has led to most biotech companies to push beyond their limits in the search for a vaccine. As a result, the World Health Organization (WHO) officials confirmed that there are at least 20 coronavirus vaccines in the pipeline globally. The leaders of this race are Gilead Sciences Inc (NASDAQ: GILD) and Moderna Inc (NASDAQ: MRNA).The virus is spreading like a forest fire, putting into perspective it has been in existence for less than five months since it

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Italian Bank Opens Bitcoin Trading Platform, Coronavirus Death Toll in Italy Tops China

March 20, 2020

Italian bank Banca Sella is now offering its 1.2 million customers the ability to trade Bitcoin through their accounts, using a platform called Hype platform.An Italian bank Banca Sella has come to the rescue of the local people to offer a Bitcoin trading platform, as Italy struggles to contain the contagious coronavirus. According to a statement by the bank, it will now provide its 1.2 million customers with a platform to trade Bitcoins with their available balances. Banca Sella has named the platform as, Hype platform.It is evident this is not a new program in Italy where its people can exchange fiat for Bitcoins, however, the Hype platform is promising its customers a different taste in the market. The Hype platform will allow the users to buy Bitcoins with the bank acting as an

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Ethereum Co-Founder Vitalik Buterin Highlights His Views on Ethereum 2.0 for Next 5-10 Years

March 20, 2020

Ethereum 2.0 is scheduled to be launched this year. Vitalik Buterin has shared his opinion on all the changes that may come in the future.Ethereum co-founder Vitalik Buterin went to Twitter to highlight his approximate view on what the next five to ten years of Ethereum 2.0 and beyond might look like. However, he gave a disclaimer that the roadmap-highlights are his current views, and he respects other peoples’ ideas. At the same time, Buterin said that he has an open-mind concept for future tech development.Buterin Views on Ethereum 2.0According to Buterin, the last two years have been primarily occupied by a huge shift from the so perceived ‘blue sky research’ (basic research) to concrete research and development. He noted that the team has been busy trying to understand what is possible

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Bitcoin Price Above $6,700 as Cryptocurrencies Rise $23.8 Billion in 24 Hours

March 20, 2020

Bitcoin price shows signs of recovering as it hit $6,700 level, even as the stock market continues in the sell-off. Major cryptocurrencies like XRP and ETH have followed the rally, as the market cap has risen by $23.8 billion in 24 hours.The crypto community can afford a smile, after days of market price free fall. Led by the mother coin Bitcoin, the cryptocurrencies rose by nearly 20% in 24 hours, rejuvenating the lost hope. At the time of writing, Bitcoin was trading slightly above $6,700, Ethereum was trading at $145 while XRP was trading at $0.17. As a whole, the crypto market cap saw a sharp uptick of about $23.8 billion to clinch on $175.98 billion.A senior analyst with RoboForex, Dmitriy Gurkovskiy, recently shared his analysis on major crypto assets with Coinspeaker. According to

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Coronavirus Vaccine Stock: Gilead Sciences or Moderna?

March 19, 2020

Let’s have a closer look at Gilead Sciences Inc (NASDAQ: GILD) and Moderna Inc (NASDAQ: MRNA) stocks as the companies are working on possible coronavirus vaccine.In the race for a coronavirus vaccine, two horses battle for the lead, Gilead Sciences Inc (NASDAQ: GILD) and Moderna Inc (NASDAQ: MRNA). As a result, a lot of speculation on the booming of their stock prices has been in the mainstream media, since the outbreak of the deadly virus.Gilead Sciences is an American public biotech company that focuses mainly on antiviral drugs, which are used in the treatment of HIV and other viral diseases. Back in 1992, the company went public through an Initial Public Offering (IPO), whereby, it raised $86.25 million. The company has been involved in a number of projects that have made it popular

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