Let's just say that the last couple of weeks have not been...kind...to my individual stock picks, which are heavily weighted in biotech. XBI also hasn't been doing well for the last month or so, down about 8.5%. So SRPT dropping (I own some too) even on strong guidance may just be part of a general downturn in biotech.
That said, I'm always hesitant to attribute short-term moves to anything, usually comments like "don't worry, it's just sector rotation" or "it's the dastardly shorts" are efforts to make people feel better and, while vaguely plausible, are most often irrelevant for long term investors [1]. So I try to ignore it all, and sometimes I even succeed.
Funny, I don't have a problem when my individual pics are going up for no apparent reason ;)
But hey! The first 5 minutes today are great!
Of course, there are causal events that move the PPS, as we who held SAVA can attest. Or IMMU for that matter. I mean "GILD acquires IMMU for double the current market cap" is causal for...er...doubling the PPS. But they are few and far between.
<rant>
I'm certain I've ranted in the past about how shallow financial "reporting" is. It usually seems to be finding some half-baked reason to justify a move in retrospect. Then along comes AI. It's sad that the financial reporting generated by AI seems to be at least as accurate as most of what used to be produced by people.
</rant>
[1] Honest, I try to make my sentences less convoluted. Here's an two minute amusement from "Yes Minister" that makes anything I write seem simple-minded: Yes Minister Christmas sketch. For those who aren't familiar with it, it was a brilliant British political satire from the 1980s |
