The Decade of Biotech is Proving Strong – and We’re Only Six Months In

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It’s a perfect time to get in touch with the latest episode of MoneyLine, as a mixed market this week has opened up a slew of investment opportunities.

The tech-heavy Nasdaq pulled back slightly, even after hitting a new all-time high on Monday. On the other hand, the Dow and S&P 500 closed out the week’s trading with gains. So in today’s podcast, I break down what we’re seeing in the market and talk about some specific stocks that have dipped in the action.

There is a clear pattern forming for several high-flying tech stocks. We’re seeing some weakness that pushed these companies to “screaming buy” levels. And for those of you wondering… YES, I name names!

Before we get to that, I provide a quick update on the COVID-19 vaccine race. Three stocks stand out, and Moderna (MRNA) is starting to take the lead as it plans to begin a Phase 3 trial later this month.

Moderna is a hot company in a hot sector. In fact, three new biotechs made their market debuts today, bringing the total number of biotech IPOs this year to 38 – nearly 50% more than this time last year! My “Decade of Biotech” strategy continues to play out… and we’re only six months in. There is still so much room for growth, and we’re seeing that in today’s trading action. You may be shocked to find out how much one of these three new stocks rallied today, which I highlight in the podcast.

Speaking of IPOs, the Special Purpose Acquisition Corporation (SPAC) path to going public continues to be one of the hottest trends in the market right now. Nearly 35% of all new listings on the Nasdaq are SPACs, and in just four months they’ve raised almost as much as they did in all of 2019. That’s incredible!

I’m keeping an eye on all of these companies, and especially those jumping on the building electric vehicle trend. As you know, I’m a huge believer in this industry’s long-term potential – and especially the next-generation batteries that the future of transportation and so much more will run on.

More on SPACs – and what billionaire Bill Ackman is up to – in today’s MoneyLine.

Finally, we wrap up with a fun speed round of “Making Money with Matt McCall.” I go through a long list of stocks that you all asked for, and it’s a blast. Not only do you get my honest opinion on each company… I’ll also give you some great-looking names that are solid buys today!

Have a great weekend. Stay cool, and stay safe.

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Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2020/07/the-decade-of-biotech-is-proving-strong-and-were-only-six-months-in/.

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