The 40%+ plunge in VRX is definitely imposing itself onto the share prices of biotech stocks, as well as a wide array of healthcare related stocks. There are scores of double digit losses being absorbed today, in spite of the minor losses present in the broader indices.
Healthcare, in general, is under severe pressure today.
More often than not, a bad actor which crushes the prices of its industry peers is usually a buying opportunity for the unrelated stocks. However, in this case, the story might drag on for a while. Plus anyway, the wide majority of the biotech sector is unprofitable, very young, and laden with shareholder bases who are ignorant to their business models and will flee at the first sign of trouble.
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Dr. Fly any interest in a starter position of LABU here for a 6-9-12 month hold? Thanks!
I’ll answer for him: No
Supposedly, more trades on VRX this morning than ES_F
You know it’s a slow day when there are 5+ posts on Valeant on the front page here
Nothing is as interesting
I’d like to know the Fly eats on an average day.
WOW .. Bill is pulling a Maximus from Gladiator .. “HOLLLLD !!!”
stock is worth multiples of current price … we’ll see how long he can stay long