I have noticed that a lot of tech stocks have been falling off a cliff the past 1-3 months while the S&P has been holding somewhat steady.
After doing a little research, it appears that oil and biotech companies have been doing very well during this tech pullback. Put together a quick screener: positive price change over 1m, 3m, 6m along with positive qoq revenue. The results were mainly oil and biotech stocks.
Will this be a sustained trend? Or just temporary with everything going on in the Middle East. Curious what is driving the biotech momentum.
Just a quick observation. Would like to hear everyone’s thoughts on this and any oil or biotech stocks that are worth buying right now.