Prohost Letter #434 Special Issue
The Value of the Biotech Companies

With a strong economy and an unemployment rate reaching the lowest percentage in decades we are witnessing strange, if not bizarre, market performance since the beginning of 2019. From the early signs of economic strength the stock market reacted explicitly to positive, economic news. Later, the enthusiastic market turned dispirited and volatile. The biotech stocks gave back their gains, and many of them were devastated during frequently occurring market crashes.

Unfair Biotech Downgrades

The downgrading of accomplished biotech firms occurred in spite . . .