Marathon Oil shares fell 45% to $3.76 Monday amid a broad sell-off of energy stocks as the price of oil sank nearly 20%. The oil drop came after Russia refused to roll back production in response to falling demand and Saudi Arabia signaled it will ramp up its own output. Shares closed the week at $4.53.
Royal Caribbean Cruises fell 24.5% to $49.11 Monday as investors continued to dump hospitality related stocks amid concern over virus fallout. Royal shares were trading around $117 in mid-February. They closed at $32.33 Friday.
Cypress Semiconductor soared 46% to $22.32 Tuesday after the company announced that U.S. regulators reversed their position from a week earlier, clearing Cypress’ $10 billion takeover by Germany’s Infineon. Shares closed Friday at $23.11.
Regeneron Pharmaceuticals could not escape a broad market slump Wednesday, losing 1.6% to $467.14.
The stock has been the biggest gainer in the S&P 500 in 2020 with a gain of 24.7%. The company and partner Sanofi hope to soon test an existing drug as a potential treatment for COVID-19. Shares closed the week at $465.55.
Vir Biotechnology shares jump
On the stock market’s worst day since 1987, Vir Biotechnology shares Thursday rose another 11.3% to $37.60 as investors responded to Vir’s joint research project with the National Institutes of Health and the National Institute of Allergy and Infectious Diseases (NIAID), Vaccine Research Center (VRC) on a possible coronavirus vaccine. Shares closed the week at $43.66.