Id like to buy back in but this market has me once bitten twice shy.
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.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.