3 Pharmacies & Drugstore Stocks to Watch Amid COVID-19 Resurgence
Walgreens Boots Alliance (NASDAQ: WBA) is a retail pharmacy giant that owns thousands of stores across the U.S. The 120-year-old company has become a household name for many Americans. Amazon, which is increasingly focusing on the healthcare market, is just one tech player looking to disrupt the pharmacy sector with its new service, Amazon Pharmacy. If it doesn't, that could make Walgreens a risky investment and may even put its impressive streak of dividend increases in danger.
Co-Diagnostics (NASDAQ: CODX), considered a coronavirus stock because of its COVID-19 testing products, was up by nearly 9% in midafternoon trading on Wednesday. The test, which has Emergency Use Authorization from the Food and Drug Administration, harnesses Co-Diagnostics' patented testing technology. In Walgreens' announcement, the company quoted Clinical Reference Laboratory CEO Robert Thompson as saying that the test "demonstrated highly accurate results with 100% sensitivity and specificity in its FDA EUA filing."