Biotech Rose with the Virus. Now It’s Falling Behind

The S&P 500 Biotech index rose as much as 25% last year after falling as low as 8% during the apex of last year’s sell-offs. Now, downward pressure is helping leveraged inverse funds like the Direxion Daily S&P Biotech Bear 3X Shares (LABD). “Lossmaking pharmaceutical and...
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