Virtus LifeSci Biotech Products ETF (BBP)
BBP Price and Sentiment
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Biotechs are ready to march forcefully higher after a lengthy consolidation. Approval of Biogen's Alzheimer's treatment creates a bonanza for neurodegenerative-focused companies and the overall biotech sector.
The first quarter of 2021 was challenging for the biotechnology industry, as the selloff in March represented a sharp reversal from record highs in February. While the sector has remained relatively resilient throughout the pandemic, we expect a full recovery in the latter half of this year, as operations that were disrupted return to normal.
Just over one year after COVID-19 disrupted our lives, we are now getting to the point where multiple vaccine options are nearly ubiquitous for those in the United States. Per the CDC, as of April 12, 36% of the entire US population has received at least one vaccine, and 79% of those aged 65 years and older.
In our opinion, telehealth will remain the leading segment of the internet healthcare market as the market shifts away from in-person medical visits. According to Apple CEO Tim Cook, “I believe, if you zoom out into the future, and you look back, and you ask the question, ‘What was Apple's great contribution to mankind?' it will be about health.”.
As most corners of the market rallied on the slew of positive news, a few sectors scaled new highs. We have highlighted five ETFs from different sectors that hit all-time highs in the recent trading session.
The S&P 500 posted its best third-quarter gains since 2010 with an advancement of 8.5%. The gains could continue as the October-December period is normally gainful for the market.
After a superb August, September turned gloomy for Wall Street.
The combination of lofty valuation, lack of additional fiscal stimulus package, election uncertainty and rising U.S.-China tensions weighed on investors' sentiment.
After a superb August, September looks gloomy for Wall Street. Still,
Late-stage biotech exchange-traded funds were among the day's biggest gainers Monday as investors pinned their hopes on medical responses to the novel coronavirus. The ALPS Medical Breakthroughs ETF was up nearly 3% at midday, while the Virtus LifeSci Biotech Products ETF was up 2.7%.