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Biotechnology stocks have ripped higher in 2020 and some investors might have missed their chance to capitalize on the surge.
The iShares Nasdaq Biotechnology ETF (IBB) is up more than 15% year to date and skyrocketed 26% in the second quarter. Another ETF tracking the biotech sector, the SPDR S&P Biotech ETF (XBI), surged 44.6% in the second quarter and hit an all-time high in June.
JC O’Hara, chief market technician at MKM Partners, has a basket of biotechnology stocks that he believes still has upside for investors still trying to put money in the space.