Healthcare ETFs Surge on FDA Full-Vaccine Nod & Deal News
Zacks Investment Research | Aug 23, 2021 11:10PM ET
The healthcare sector got a boost on the Aug 23 trading session boosted by the wave of positive news. The vaccine boost news as well as an acquisition triggered momentum in the markets, thereby pushing the S&P 500 Index to a new peak.h3 Vaccine Boost/h3
The FDA granted full approval of a COVID-19 vaccine made by Pfizer all the Healthcare ETFs here ).
Further, several encouraging trends will continue to fuel growth in the healthcare space. These include new drug nods, an accelerated pace of innovation, promising drug launches, the growing importance of biosimilars, cost-cutting efforts, an aging population, expanding insurance coverage, the rising middleclass, insatiable demand for new drugs and ever-increasing spending on healthcare.
Moreover, the sector’s non-cyclical nature provides a cushion to the portfolio amid volatile market conditions.
Tech IPOs With Massive Profit Potential
In the past few years, many popular platforms and like Uber (NYSE:UBER) and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.
For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…
If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.
With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.
See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Zacks Investment Research
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