CharlieeMungerTWITS
Oct 3, 12:13 AM
$CELC If CELC had collapsed from
$100 to
$72 while XBI was ripping higher and LABD was collapsing, I’d be considerably more concerned. That would suggest CELC-specific selling. But that’s not what’s up…
Instead, you’ve had a pretty nasty risk-off environment for biotech and smaller-cap equities generally. The broader market has also become unusually narrow. LABD up like 30%. The WSJ reports that since September nearly 80% of S&P 500 stocks have declined, while AI-related mega-caps have masked much of the weakness in the headline indexes. Small caps have been particularly weak.
$ETON $CORT
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