The worst performing sector, biotech, has done the best the past week, surging by more than 10% and standing out during upswings. For the entire year, LABU has been getting drilled up until recently.
Has it bottomed? The action is good, but only cosmic scientists can determine whether cash burning biotechs into a deep recession are good buys here.
Within the healthcare space, I prefer large capped pharma like BMRN or MRK. If you’re interested in alpha, the gene editing stocks move the quickest: NTLA, EDIT, ILMN etc.
Early going it’s all biotech and tech. Energy and ag are being rotated like a bitch, sending those stocks down deep into the red. Although cheap, I don’t like chasing stocks down the sewer. I’d prefer to buy at end of day on names like MOS.
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