Mark Stock Price: Remark Holding inc may rise while other shares fall on coronavirus second wave fears
- Remark Holdings Inc is trading marginally lower, falling alongside the broad stock market.
- Pessimism from the Federal Reserve may hurt various shares but may skip NASDAQ:MARK.
- Concerns about a second coronavirus wave may already boost the firm while weighing on stocks.
Have broader stock markets hit the peak? Remark Holding could stand out and climb while that happens. The primary reason for the fall is the Federal Reserve's pessimism about an economic recovery. The world's most powerful central bank foresees a return to pre-pandemic output not before 2022. Only then do some officials consider raising rates, while the vast majority leave it beyond the horizon.
The Fed will continue buying bonds at an elevated pace and called on the government to do more. Jerome Powell, Chairman of the Federal Reserve, emphasized by saying that the bank is "not even thinking about thinking of raising rates." The pessimism is weighing on markets and Remark is not immune to the falls.
The stock is holding above the June low, a bullish sign. However, it needs to recapture the previous peaks above $3 to confirm a fresh uptrend.
Mark stock news
However, another market downer is one that NASDAQ: MARK may benefit from. Investors are growingly concerned with a potential second wave of coronavirus in the US. While the greater New York area is bending the curve down, cases are on the rise in three large states – California, Texas, and Florida.
Remark's thermal scanners are useful for detecting people with fever, allowing for a safer return to normal – or preventing new lockdowns. The equipment can scan up to 120 people per minute, allowing for quick movement into small and large spaces alike.
Moreover, Remark produces AI kit that is coming into high demand in China. That may also allow the stock to hold its ground and rise. Remark also has a stake in a company founded by Dr. Oz.
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
