“Today is a good example of how the markets have been pricing in a lot of the good news,” said David Trainer, CEO of investment research firm New Constructs.
CVS Health fell 8.6%, Walgreens Boots Alliance dropped 9.6% and Rite-Aid lost 16.3%. Amazon, meanwhile, ticked up 0.1%. The electric-vehicle company had already soared 388.8% in 2020 before Monday evening’s index announcement. With a total market value rivaling Johnson & Johnson’s and Visa’s, it’s set to become one of the biggest stocks in the S&P 500.
Boston Scientific dropped 7.9% for one of the largest losses in the index after it issued a voluntary recall for its LOTUS Edge aortic valve system. Analysts said problems with its delivery system essentially mean an end to what was once a promising business.
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