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Regarding the healthcare sector, the Health Care Select Sector SPDR ETF’s (XLV) 19.7% returns over the past six months reflect investor optimism about the sector’s growth prospects. However, the big rally by many of the sector’s stocks over the last year has come absent investors’ increased focus on the space. Rather, some fundamentally weak stocks have rallied thanks to WSB’s actions.
So, we think speculative biotech stocks Ocugen, Inc. (OCGN), Humanigen Inc. (HGEN), and 180 Life Sciences Corp. (ATNF) that are favorites of investors on Reddit forums are best avoided now.
