Biotech clouds are not clearing

December 20, 2024 Leave a comment

My note from 1 month ago called for a bounce in biotech prices but re-iterated my view that I still expect prices to ladder their way lower.

In that note, I referenced the iShares Biotech ETF (IBB).

Dark clouds for biotech

And so, from the day of my note’s release (November 19, 2024), it did commence its climb, eventually rising 7.5% and recovering 50% of the recent decline.

Since then, the IBB ETF has fallen again, erasing those gains and has since making a new ‘lower low’.

And I’m still calling IBB down to the $100 mark. It is $131 today.

December 20, 2024

rob@karriasset.com.au

Screenshot

Filed under Finance & Investment Tagged with , , , ,

Dark clouds for biotech

November 19, 2024 Leave a comment

Last week’s abrupt decline in the U.S. #biotech indices look like the beginning of a larger decline.

It could be a dark winter while political machinations sort themselves out.

For some reference, while the iShares Biotech ETF #IBB will likely bounce in the near term, I’ll look for it to eventually trade down slightly below the $100 mark.

November 19, 2024

rob@karriasset.com.au

Screenshot

Filed under Finance & Investment Tagged with , , , , , ,