Wednesday, June 08, 2022 6:17:57 PM
Biotech has likely already hit bottom. The XBI is 20% higher than it's 5-year low when it hit $61.78 on May 12th. Crazy that the XBI was $174.79 on 09/02/21. Small cap biotechs are seriously undervalued right now. The market as a whole might tank further but biotech isn't going any lower. In fact, HGEN has been doing the inverse of the general market for a while now. Red days for the general market have been very green for HGEN. So it is a safe harbor. Things like inflation or a potential recession aren't very relevant to a stock that is on the brink of a massive binary event.
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