Stockwatch: Fireworks Or Ballistic Missiles In Biotechnology?

Last week saw the NASDAQ Biotechnology Index (NBI) finish up 2.9%, outperforming a flat week for the broad market S&P 500 index. In the past six months this has been a reasonably rare event although it was often the case in the last biotech bull market that ended last summer. While much of the NBI's performance came from the relief rally on Friday, May 20, some commentators on social media were hailing it as the start of a recovery in biotechnology.