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Friday, November 22, 2024

Value of Danbury-based Pharmaceuticals and Biotechnology company MannKind Corp. (MNKD:NMQ) rose 72.4% in week ending April 2

Stock market 26 edited

Value in Pharmaceuticals and Biotechnology stocks rose 2.3 percent in the week ending April 2 from the previous week.

The strongest performing Pharmaceuticals and Biotechnology company in Connecticut was NanoViricides Inc. (NNVC:ASQ), sitting 168.5 percent higher to sell at $2.07.

BioXcel Therapeutics Inc. (BTAI:NAQ) fared the worst among Connecticut companies, suffering a 25.5 percent drop to $21.55.

Among Danbury companies, MannKind Corp. (MNKD:NMQ) saw the highest rise in value of 72.4 percent in the week ending April 2.

The Finance and Credit Services industry was the week’s best-performing industry on the market. The market is divided into 44 different industries.

Industrial Transportation was the worst-performing industry.

Healthcare and technology stocks are viewed as the safest bets for long-term gains.

Besty Kuekcer with Benzinga.com said healthcare-related stocks, such as hospital conglomerates and insurance companies, have weathered numerous economic crises and still make a profit, suggesting that they are generally a stable investment.

While technology stocks can be more risky, given the boom-bust nature of new tech companies, Kuecker recommended a diverse portfolio of tech companies to strike it big when companies succeed or sell to other larger companies.

For short-term investments, Kuecker recommended “consumer discretionary” stocks, which are sensitive to economic changes but can rise greatly on the back of a strong economy.

Nothing in this article is to be assumed as financial advice.

Rank of stock market industries in week ending April 2

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Finance and Credit Services99.6%1,028.9%-81%
Telecommunications Equipment7.8%2,950.9%-83%
Real Estate Investment Trusts4.2%2,889.3%-84.9%
Food Producers4%14,857.6%-92.1%
Gas, Water and Multi-utilities3.7%163.6%-62.9%
Electricity3%1,356.4%-69%
Medical Equipment and Services3%22,356.8%-96.6%
Software and Computer Services3%3,849%-95%
Health Care Providers2.8%1,747.5%-80.8%
Pharmaceuticals and Biotechnology2.3%72,545.9%-96.9%
Waste and Disposal Services2.2%746.1%-50.4%
Closed End Investments2.1%2,702.7%-92.8%
Tobacco1.9%434.9%-89.7%
Mortgage Real Estate Investment Trusts1.6%163.2%-74.2%
Beverages1.4%671.5%-83.7%
Non-life Insurance1%302.9%-82.7%
Alternative Energy0.8%440.8%-75.5%
Industrial Support Services0.7%4,670.5%-75.4%
Media0.7%9,980.1%-93.5%
Banks0.5%46,358.9%-99.7%
Automobiles and Parts0.4%462%-70.3%
Oil, Gas and Coal0.4%4,477.5%-99.7%
Consumer Services0.3%9,300%-84.9%
Travel and Leisure0.3%19,698%-99.4%
Open End and Miscellaneous Investment Vehicles0.1%379,139.1%-99.9%
Personal Care, Drug and Grocery Stores0.1%61,036.1%-74.2%
Industrial Materials-0.3%2,759%-78.8%
Real Estate Investment and Services-0.3%729.8%-96.4%
General Industrials-0.4%1,606.1%-53.1%
Chemicals-0.5%264.3%-80.5%
Leisure Goods-0.7%1,088.1%-45.3%
Personal Goods-0.9%487.2%-52.1%
Life Insurance-0.9%267.5%-53.2%
Aerospace and Defense-1.1%5,845.8%-85.6%
Industrial Metals and Mining-1.4%2,290.8%-88.8%
Construction and Materials-1.7%59,868%-91.8%
Technology Hardware and Equipment-1.8%10,097.1%-71.6%
Electronic and Electrical Equipment-2%85,688%-94.7%
Industrial Engineering-2.2%4,586.2%-87.3%
Retailers-2.6%113,233.3%-97.8%
Household Goods and Home Construction-2.7%411.7%-95.6%
Investment Banking and Brokerage Services-3.1%27,388.6%-90%
Precious Metals and Mining-3.5%27,743.2%-70.1%
Industrial Transportation-5.1%3,818.8%-88.3%

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