Biotech Values

[zipjet]

If your theory was correct, there should be a big discrepancy between the profitable biotechs with high tax rates (should be strong) and those with low rates and the unprofitable ones.

Good point.

But there are other confounding factors for profitable bio/pharma. Possibility of pricing impairment by government (raised again by PEOTUS) and trend following rotation that has shaken psychology of the sector. I think both of those fade over time.