Tread carefully if you're buying biotech stocks, traders say as group nears all-time highs

  • 📰 CNBC
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Tread carefully if you're buying biotech stocks, traders say as group nears all-time highs $IBB (via TradingNation)

"If [Gilead and Amgen] start to break down, it could be a problem for the group," Maley said. "Now, nobody wants to short any of these names because ... if you get a nice discovery on [a]vaccine, the group's going to go do very nicely. But I just think people don't want to be aggressive after the big move we've had, given that these two stocks are starting to show some cracks.

Mark Tepper, president and CEO of Strategic Wealth Partners, said in the same interview that "it makes sense right now to be selective." "This is not a situation where I'd be looking to just blindly buy the group and hop into the IBB ETF," he said. "Price matters." Although the race for a Covid-19 cure is front and center, "cancer's not asleep and it's taken far more lives than Covid, so, ... we want to be in stocks with an oncology focus," Tepper said.," he said.

"There have certainly been some short-term headwinds for the stock," Tepper added. "Elective procedures have kind of been kicked down the road. But as those things ramp back up, the headwinds are going to fade, and we like this as a long-term play."Disclosure: Strategic Wealth Partners owns shares of Exact Sciences.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

TradingNation Teppers blazer game is strong. I want some shares

TradingNation Are you guys saving this for later?

TradingNation Thanks CNBC all in now!!

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Investors should question buying U.S. stocks right now, strategist saysA lot depends on the 'tug of war' between government stimulus and fundamentals, he told CNBC. Govt has substituted debt for taxation for decades. Economy gas plenty of wealth to pay for stimulus payments but it means taxing and redirecting weath believed to be private possession if the rich.Stock traders are making billions from the outbreak and will hide profits fromtax why? they always go up! ya think
Källa: CNBC - 🏆 12. / 72 Läs mer »