Cramer said he has liked this company for a long time and likes what it's doing now. That includes selling its $13 billion stake in Regeneron (REGN) and redeploying the capital for growth and working on a Covid-19 vaccine.
The company is working on two vaccines for Covid, Hudson said, adding that "we need to play our part...we know what our duty is."
Sanofi expects to enter Phase 3 testing in November or December and have a vaccine ready in early 2021. When that happens, it plans to produce a billion doses. That's not hyperbole, he added, as the company already produces a billion doses of various vaccines each year.
"We're doing it the right way to high standards and we're going to play a big part in helping get people back to normal," he said.
Let's check out the charts and indicators.
In this daily bar chart of SNY, below, we can see that prices made a small double top back in January and February before declining with the broad market losses in March. SNY rebounded and was making new highs for the year in June and July.
Prices have corrected down into early September to test the rising 200-day moving average line. Another test of the 200-day line seems likely in the short-run.
The On-Balance-Volume (OBV) line shows a slight decline from late July telling us there is a slight bias towards more aggressive selling.
The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line the past two months which tells us that there is little power behind any rally attempts.