Over the past week, as the World Health Organization has warned of possible global pandemic related to the current H1N1, or swine flu, outbreak, Mexican-related stocks and the Mexican stock market in general have sold off extremely hard.
Take, for example, iShares MSCI Mexico(EWW Quote), which is down as much as 95 to 10% last week. Investors were panicking and dumping everything related to Mexico in fears of a possible economic and financial slowdown.
Recent tallies report close to 1,000 cases in 20 countries, 225 of which are in the U.S. There have been 26 H1N1-related deaths in Mexico and one H1N1-related death in the U.S.
Traders have been trying to game speculative swine flu stocks such as BioCryst Pharmaceuticals(BCRX Quote), in phase I testing of a potential flu vaccine, and Novavax(NVAX Quote), another vaccine company in early phase I and phase II testing, as well as pork producer Smithfield Foods(SFD Quote). ...
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