Some of these biotech stocks are having their brains eaten for them. Wow. Shares of MNK are off by 13.5%, chained to the VRX ball heading to the bottom of the sea.
ZYNE is off by 21%
GWPH is off by 9.5%
PBYI is off by 8%
VRTX is off by 5.7%
BMRN is off by 4.5%
And there are scores of small cap names down 5%+.
Biotech is easily the worst performing sector of 2016, down 28%. To put that into perspective, for all of the doom being cast over the oil sector it is up 0.2% for the year–completely reversing stark losses that were endured earlier in the year.
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Market is buying the Oil Currencies and the Aussie. But, THERE IS STILL A MASSIVE supply of commodities and nobody wants them even with a weaker dollar.