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  (SPCE) – Get Report filed for shareholders to sell 113 million shares last Friday. TheStreet looked at the charts to see if there is a buying opportunity.

TheStreet Quant Ratings does not have a rating for Virgin Galactic.

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  (OXY) – Get Report when it joins at the start of trading Monday.

TheStreet Quant Ratings rates Occidental Petroleum as a Sell with a rating score of D.

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.

TheStreet Quant Ratings rates Moderna as a Hold with a rating score of C.

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.

TheStreet Quant Ratings rates Pfizer as a Buy with a rating score of B-.

5. United Airlines | -7.49% 5 day | +8.99% 1 Month

United Airlines  (UAL) – Get Report received a downgrade in the last week from J.P. Morgan.

TheStreet Quant Ratings rates United Airlines as a Sell with a rating score of D+.

6. AstraZeneca | -7.48% 5 day | -7.00% 1 Month

AstraZeneca  (AZN) – Get Report agreed to a takeover of Alexion Pharmaceuticals for $39 billion. This comes after a study found its vaccine candidate ‘safe and effective’.

TheStreet Quant Ratings rates AstraZeneca as a Buy with a rating score of B.

7. Cigna | -5.86% 5 day | -6.57% 1 Month

Cigna  (CI) – Get Report announced new leadership to bring on its new phase of growth as they enter the Biden administration.

TheStreet Quant Ratings rates Cigna as a Buy with a rating score of B.

NOTE: Recently, Quantitative Analysis by TheStreet Quant Ratings objectively rated these stocks according to its risk-adjusted total return prospect over a 12-month investment horizon. Not based on the news on any given day, the rating may differ from Jim Cramer’s view or that of this articles’ author.

None of these stocks is a key holding in Jim Cramer’s Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.