Why is Illumina’s Stock Price Falling?

Fewer than half of Americans own a passport. Some say that’s because their own backyard is such a big one. The half of our audience that hails from there may not be aware of what’s happening with global travel because they’re blissfully watching the stock market soar inexplicably.

According to the World Tourism Barometer, international arrivals plunged 81% in July and 79% in August, the two busiest months of the year for travel. Up until August, 700 million fewer arrivals than 2019 has translated into a loss of US $730 billion in export revenues from international tourism, more than 8X the loss experienced during the 2009 global economic crisis.

For those who still travel, many countries now require a negative polymerase chain reaction (PCR) COVID-19 test within 72 hours of your flight leaving. Good luck with that. Labs are absolutely slammed right now. (If you’re a paying subscriber, email us for an intro to a trusted test provider.) With every life sciences company under the sun doing some sort of “pandemic pivot,” we decided to see how that’s benefiting one of the biggest holdings in