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Tri-county stocks bounce back as market soars

By   /   Tuesday, March 24th, 2020  /   No Comments

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The Dow Jones Industrial Average surged at historic rates March 24, as pressure came down from President Donald Trump on Congress to pass a fiscal stimulus bill and regulators to reopen businesses by Easter. 

Tri-county public companies rebounded 9.4 percent from the past week’s declines, including a 68 percent jump for Goleta breast implant supplier Sientra, following a more than 80 percent drop since the start of the year. 

Electronics firms shot up as well, with a 21 percent gain for Westlake Village firm Inphi, and a 17 percent jump for Goleta mobile device filter maker Resonant to $1.26 per share. Camarillo-based Semtech gained 8.2 percent. 

Software firm AppFolio jumped 15.5 percent for the day to $103.83, while Ventura-based The Trade Desk and Summerland ERP provider QAD jumped 9.8 percent apiece. 

Atara Biotherapeutics made up much of its losses over the past two weeks, gaining 18.5 percent to $9.35, alongside a 19 percent jump for Cure Pharmaceutical. Thousand Oaks biotech giant Amgen rose 8.8 percent to $202.34. 

A few stocks continued to slide, including a 9.4 percent drop for PennyMac Mortgage Investment Trust, which has plummeted 74 percent year-to-date. CDTi Advanced Materials fell more than 5 percent, and Interlink Electronics fell 2.6 percent. 

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