3 Popular Reddit Biotech Stocks You Should Avoid By StockNews

© Reuters.  Hartford, Conn. to seek bankruptcy if no state budget in 60 days

© Reuters. 3 Popular Reddit Biotech Actions You Should Avoid

The Reddit WallStreetBets community, or WSB, demonstrated its power by facilitating a massive downsizing of GameStop (NYSE 🙂 earlier this year. While the spotlight has yet to move from the healthcare industry, and many stocks in that sector are seeing steady price increases, we believe Reddit’s speculative biotech stocks Ocugen, Inc. (NASDAQ :), Humanigen Inc. (HGEN) and 180 Life Sciences Corp. (ATNF) should be avoided at all costs given questions about their prospects or their ability to stay afloat. . A unified approach gives Reddit investors the potential to gain significantly by pulling sellers short of their positions in fundamentally weak stocks. However, GME’s fundamental weaknesses have made the contraction brief. The stock has fallen 2.8% over the past month. Regarding the healthcare sector, the 19.7% returns of the Health Care Select Sector SPDR ETF (XLV) over the past six months reflect investors’ optimism about the growth prospects for the sector. However, the big rally in many of the sector’s stocks over the past year came without the greatest focus of investors in the space. Rather, some fundamentally weak stocks have rallied thanks to WSB stocks. So we think the speculative biotech stocks Ocugen, Inc. (OCGN), Humanigen Inc. (HGEN), and 180 Life Sciences Corp. (ATNF), which are investor favorites on Reddit forums, are better. avoid them now. Continue reading on StockNews

Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data. Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.