Bidens Second Goal
You may be thinking COVID-19 is a thing of the past and we are moving forward into a new era of prosperity, free of masks, open to socialize and live our lives to the fullest once more. Unfortunately, this may still be a reality further than initially expected as statistics are still mixed.
Globally, deaths have reached 2.7 million, and although moving averages since January have declined to indicate progress, those numbers have recently stalled out, and in some cases, reversed. In fact, the seven-day average of new cases jumped to 57,695 Wednesday, 9.5% above the prior week, marking the biggest increase since Jan. 12. Fortunately, Biden has beaten his goal of 100M vaccines within the first 100 days, doing it in just 42 days. More recently, Biden has upped the stakes aiming to have 200 million shots delivered by his 100th day in office.
With current biotech stocks working on the vaccine such as Pfizer, AstraZeneca, and more having a rough few days, do you think the news will help pull them back up?
Some investors have stayed wary of investing heavily into single biotech firms as the more competition that enters that market, the more diluted growth becomes, and the riskier investments get. In fact, some have said that even if coronavirus vaccines become the new flu shot — something you take every year — in time, more players could enter that field making the long-term prospect for these investments shakier than originally anticipated. Of course, each company does work on more than just a vaccine, so when the pandemic is over, it will be interesting to see if new innovations begin to release at a faster rate.
Are you invested in biotech? And if so, do you have an exit strategy?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.