Accolade’s IPO happened at the right time when the pandemic is flourishing with a promised second wave around the globe. Healthcare stocks have been soaring since mid-February which was the first debuting moment of COVID-19 in China. Its Quick spread is a good work of globalization that keeps everyone in the global village.
If biotech companies find a cure for COVID-19 their stocks and revenue sales will surge but for a short time; two months maximum. So, personal and collective healthcare services are going to have slow growth in revenue or even a sharp fall.
Accolade is not an exception in that situation. Its quite inexpensive stock may stop surging and perhaps downtrend could be knocking its doors of trade due to a sharp fall in demand for healthcare services.
Before the end of COVID-19 pandemic NASDAQ: ACCD might enjoy triumphal uptrend and healthcare interested investors could enjoy it temporarily.