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Tri-county stocks rebound from coronavirus selloff

By   /   Tuesday, March 17th, 2020  /   Comments Off on Tri-county stocks rebound from coronavirus selloff

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Stocks regained some of their footing March 17, with the announcement of trillions of dollars in potential spending by the federal government, including direct payments to individuals. 

Goleta software developer AppFolio led the gains in the region with an almost 30 percent pop for the day, alongside moderate gains for other software firms. 

It was followed closely by MannKind, the inhalable insulin maker out of Westlake Village, which rose 25 percent. Camarillo semiconductor company Semtech rose 22 percent, and PennyMac Financial Services regained some of the previous day’s losses, gaining 12.4 percent.

Sientra gained 10 percent for the day to $1.64, but remains down 82 percent since the start of the year, the steepest drop among tri-county public companies. 

Atara Biotherapeutics fell 7.3 percent, bringing it down down 65 percent overall in 2020.

Meanwhile, PennyMac Mortgage Investment Trust had the largest fall for the day, dropping another 20 percent, for a total of a 61 percent decline year-to-date.

Sonos, Cure Pharmaceuticals and Resonant were all down 50 percent or more since the start of the year.

• Contact Marissa Nall at [email protected]

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