COVID-19 might not be going anywhere anytime soon. Last week, Florida, Texas, California and Arizona all reported that the daily rate of new infections had spiked. Heightened fears of a second wave and the possible reversal of reopening measures spooked the market, with the three major U.S. stock indexes landing in the red on June 26.
The resiliency of the virus has understandably alarmed investors, as the pandemic has devasted certain areas of the market. That being said, others have boomed during these tumultuous times. Looking specifically at the biotech sector, massive amounts of capital have been pumped into a handful of names racing to develop solutions to combat the virus. In the last three months, the NASDAQ Biotechnology Index (NBI) has climbed 29% higher, leaving