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Wild ride for leveraged biotech ETFs continues
A week after presidential candidate Hillary Clinton made scathing comments about price gouging by the pharmaceuticals industry, biotechnology stocks and exchange-traded funds remain at the epicenter of what has rapidly become a precariously positioned healthcare sector.
However, some bearish leveraged biotech ETFs, namely the Direxion Daily S&P Biotech Bear 3X Shares (NYSE: LABD), are enjoying life in the fast lane.
LABD's Recent Run
After surging more than 30 percent, LABD is up another 15.7 percent at this writing Monday on volume that is already more than double the daily average.
LABD underscores how quickly things can change for triple-leveraged ETFs and why the disclaimer that only active traders planning to hold these funds for just a few days should use these products, not buy-and-hold investors, is so often repeated.
Read more at Benzinga.
Photo: United States Mission Geneva