Mullen Group (MTL)

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COVID-19 stocks are flying as Raoul Pal goes live with a recession update

Today is a busy day at INK. At the close we are rebalancing the 50-stock INK Canadian Insider (CIN) Index. Over the past week we have been highlighting some of the new entrants and in the Friday morning report we highlighted newcomer Mullen Group ( MTL). There is obviously a lot of uncertainty about the economy's path due to COVID-19. However, there is some hope emerging among biotech stocks that maybe some treatments might be on the way. In particular, two stocks focusing on anti-body research that we featured in INK Chat are rallying Friday.

The big winner is Sorrento Therapeutics (SRNE) which is up more than 150% based on a Fox News story that the company is claiming to have an effective treatment. Nicholas Winton who writes the weekly INK CIN technical blog highlighted this stock in INK Chat on May 11th.

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