Saturday, April 12, 2014
Monsanto, biotech stocks plummet the day after activists launch Operation Monsanto Stock Plunge
Biotech stocks plummeted Thursday following the release of Operation Monsanto Stock Plunge by Food Democracy Now -- a campaign that urged investors to sell shares of biotech companies like Monsanto.
"On Thursday, the Nasdaq composite, which is weighted heavily toward tech and biotech companies, had its worst day since November 2011," reported the Associated Press, less than 24 hours after the launch of Operation Monsanto Stock Plunge. The story was carried across thousands of newspapers such as the L.A. Times. (1)
"Biogen Idec, Gilead Sciences and other biotech companies plunged. Gilead Sciences slid $5.17, or 7 percent, to $65.48 on Thursday. Biogen Idec dropped $13.33, or 4 percent, to $287.35. Both roughly doubled in value last year."
U.S. News and World Report declared, "Stocks drop as investors dump biotech" (see screen shot below), and other newspapers reported headlines like "Dow, Nasdaq fall dramatically as investors dump biotech stocks."
The L.A. Times declared the plunge "Nasdaq's worst day since 2011" (see screen shot below).
Monsanto stocks fell precipitously all day long, as is shown in the following stock price graph: