COVID-19 has been all the buzz lately…
And if you’re a biotech company, that’s great news! Anyone could throw a stone at a biotech company and it would rally.
It reminds me of the type of climate internet stocks enjoyed in the mid-1990s. If you were an internet company, you were doing great no matter who you were. If an internet company needed a loan, money or market capitalization, they’d get it!
But we’re in a different place now, and I found a group of biotech stocks to sell now…
3 Biotech Stocks to Sell Now
Head Trader Roger Scott
As industries become more and more sophisticated, traders and investors become more selective. And that’s what has happened with the biotech industry.
Back in February, we didn’t know anything. We didn’t know how the year was going to shake out. We didn’t know how deadly COVID-19 would be. We still don’t know who is going to successfully create a coronavirus vaccine or when it will even come out.
We do know one thing. Whoever is going to solve this problem is more than likely going to be a biotech or medical company.
And as a result, we have seen an uptick in biotech companies no matter if they’re related to COVID-19 or not. Even if a company only has 1% of a share in another company related to COVID-19, all of a sudden the stock has skyrocketed.
But over the past six to seven months, we’ve been able to separate the winners and the losers — the biotech companies that are going to find a long-term solution for COVID-19 and the ones that aren’t.
And a lot of these stocks in that second group are now seeing major selloffs.
As a matter of fact, if you look at a list of the weakest stocks right now you’ll see biotech names like Gilead Sciences, Inc. (Nasdaq: GILD), Biogen Inc (Nasdaq: BIIB), Eli Lilly And Co (NYSE: LLY) and Amgen, Inc. (Nasdaq: AMGN) making lows.
This shakeout is something you need to pay attention to. While some biotech stocks are really smart investments, others are nothing more than dogs with fleas.
Nobody likes fleas. So watch my latest video and stay away from this short list of biotech stocks to sell.
Check out today’s video and leave a comment in the section below. Have you traded any biotech stocks during quarantine, and how did it go? After watching today’s video, will you likely sell these three biotech stocks?
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