GILD is up ~5% today, which is not bad, but the market is not buying the hype on this. It would be thru the roof if that was the case. I think the market already knows that there are effective treatments to COVID-19. The media is saying the market being up today is based on this news, not true, just another story they want to tell you.
One stock does not drive the overall market.
It may reflect it but that can’t be construed as overall market confidence because of that stock’s momentary success.
Fake news
I also hear that remdesivir (costs around $1,000) is touted by WHO and CHINA.
Hydroxychloroquine ($0.32) and is off patent.
I wonder who has a financial stake in this.