Buy-the-Dip Candidates in the Stock Market: Vaccine Stocks Fall

Congress was able to reach an agreement on a Covid-19 relief bill Sunday evening after politicians from both political parties received their first dose of the coronavirus vaccine.

Stocks are enjoying a “Santa Rally” as the year comes to a close while other stocks have not fared too well this past week. Could now be the time to “buy the dip” in stocks that fell this past week?

Here are several stocks that fell this past week and could present an opportunity to “buy the dip”.

1. Virgin Galactic | -25.59% 5 day | +5.53% 1 Month

Virgin Galactic filed for shareholders to sell 113 million shares last Friday. TheStreet looked at the charts to see if there is a buying opportunity.

2. Occidental Petroleum | -11.35% 5 day | +43.90% 1 Month

Oil stocks were rising earlier in Dec. after the OPEC+ production accord. Tesla moving into the S&P 100 will knock out Occidental Petroleum when it joins at the start of trading Monday.

3. Moderna | -10.64% 5 day | +57.76% 1 Month

Moderna was named the third-best stock in 2020 in TheStreet’s Stock of the Year rankings. Donald Trump jumped the gun and tweeted Moderna received its approval early Friday but the FDA had to push back on the approval, sending shares down.

Moderna finally received approval for emergency use for its vaccine on Saturday.

4. Pfizer | -8.37% 5 day | +24.81% 1 Month

Pfizer started to roll out its vaccine last week after it received approval for emergency use.

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