Biotechs are Getting Routed to Close the Year
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The rapid development and production of Covid vaccines sent biotech stocks to new heights last year, especially with shares in BioNTech and Moderna putting up numbers worthy of the NBA All-Star Game.
With the new Omicron variant causing jitters, and demand for booster shots higher than ever, this year would seem poised to continue that streak. Instead, the biotech sector is ending 2021 in a brutal slump that's wiped billions off the investments of some of the industry's biggest hedge funds. There's still signs of life, though.
Source Fool.com
