It’s been a memorable, if not unusual, summer of 2020, but it’s not stopping biotech bulls from charging forward. The sector has been on a steady uptrend despite the economic effects of Covid-19.
“Summertime is typically regarded as a notoriously choppy month for markets as volume tends to dissipate,” a Direxion Investments’ Xchange article noted. “But 2020 is obviously a year of altered expectations. While volatility still permeates the broad market, one segment has seen a fairly consistent upward trend through the bulk of the year. That segment is, of course, biotech, with research labs and pharmaceuticals under close scrutiny from investors eager to capitalize on any headway in the public health battle that is raging in countries across the globe.”
What exactly are the tailwinds behind biotech?