Wall Street: Buffett’s good guess

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The US stock markets closed mixed on Friday. Biogen shot higher after good news of a potential Alzheimer’s drug.

The results of Uber

Thursday night fell bad. The stock tumbled 5 percent. Uber entered 2020 as a taxi app with a meal courier on the sidelines. A pandemic later, the roles are exactly reversed: the quarterly report shows that, for the first time, Uber generated more turnover via Uber Eats than from the taxi app. In the end, the result is the first ever decline in sales and a net loss.

On the Nasdaq there was with Biogen

a positive outlier, with a jump of 10 percent. The Alzheimer’s drug Aducanumab will be reviewed more quickly by the American FDA, in the jargon a Priority Review. According to the RBC stock exchange, this may be a positive signal towards approval. The final verdict is now expected by March 2021.

Aducanumab is one of the most watched Alzheimer’s drugs in recent years, but the studies are not smooth sailing. In December it turned out that with an increased dose, the drug could be the very first to slow down the dementia process. But another study on a zero effect.

Super investor Warren Buffett – although not a big fan of biotech – seems to believe in it. Berkshire Hathaway

bought $ 200 million shares of Biogen in February, a relatively solid position. The Buffett mover won over 2 percent.

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