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Painful, but not fatal. Many biotechs that had great 4th quarter runs have seen strong profit-taking this month as short-term traders rotate into more economically sensitive areas after pushing cap. gains tax liabilities into 2021.
I own and monitor a bunch of biotechs and this is essentially a sector move and not company specific in the absence of a company-specific announced event.
This too will run its course and we'll get back in gear....not sure when but this will abate. Time for biotech investors to take a breath and come back in a week or two.
FWIW , and just my opinion , if something important had changed we would have dropped a lot more on way higher volume. But I have been wrong before and may be so again.We are also still above the $ 17.50 price point of the last offering what still is some kind of marker.
While we have been burned at times, there are more times when a big downdraft without news levels out and recovers and is forgotten. A casual glance looks like a sector selloff and following index fund adjusting. We are vulnerable given the waiting position we are in. Any downdraft can be seen as unannounced bad news. Been there, done that.
Any good publication will tell their readers that biotech investors have to have stomach’s of steel. Today is simply a real life reminder of that.
While that might be short term comforting, it opens up an issue that every time in the future that there’s a downdraft in the stock, they need to say something, and if they don’t, then something MUST be bad.