ZBIO - The Biotech Bumps
We've turned the page to November, and investors across the globe may feel a bit of unconscious relief. Stock markets do fluctuate, but months like October are never fun. And that has been especially acute in biotech. Leading ETFs like IBB and XBI dropped ~15% and 18% respectively in October.
But that brings us to around lows experienced in May in IBB's case, or to levels last seen in August/September of 2017 in XBI's case. So is the sell-off a turning point or just random noise? And what do we make of prominent green shoots,