This isn’t uncommon – I swear I talk about not trading biotechs every single week because some stock gets killed by the FDA. That is because unless you are an expert in the field (which I am not and you probably aren’t either) the risk you take trading biotechs are through the roof.
This week’s example?
Sarepta Therapeutics (SRPT)
Why there would be any buyers left for the stock following January’s massive sell-off is beyond me… The fact that there is enough buyers to rally the stock 30% off of its lows of the day, today, is even more unfathomable (still down 27% though).
I’ll leave it here with this simple chart…