G. Thomas Lackey was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
CFA and Barber Lackey Financial Group Chief Investment Officer Thomas Lackey said that investors should not "give up on biotech.”
Lackey did not worry about what large companies were doing in the sector as the industry was really about new things and the “companies that are really doing groundbreaking stuff.”
As a result, focusing on the large biotech names might not be the best way to play the industry’s advances in Lackey’s view.
Lackey mentioned SPDR S&P Biotech (ETF) XBI and iShares NASDAQ Biotechnology Index (ETF) IBB as ways to gain exposure to biotech.
iShares NASDAQ Biotechnology Index (ETF) recently traded at $363.45, up 0.82 percent.
SPDR S&P Biotech (ETF) recently traded at $234.74, up 1.58 percent.
Listen to the show here:
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