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Trump Tweet Creates Another Buying Opportunity, This Time In Biotech

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Trump Tweet Creates Another Buying Opportunity, This Time In Biotech
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iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB) shares were seen trading higher by $4.99 at $300.02 in Wednesday's session. On Tuesday, the ETF fell $4.80 ($299.83 to $295.03), a move that was instigated by yet another negative President Donald Trump tweet affecting issues in the market.

"I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" the tweet read.

The ETF bottomed early in the session on Tuesday at $294.00 and found support in that same area at it bottomed off its opening print of $294.40 and began to move higher.

At this time, it has surpassed Monday's close ($299.83), climbing into the $300.00 handle as $300.16 stands as the current high.


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