RAC - Charts & Price Action, page-11429

So RAC down from $4.2 to $2.2 (48% loss)
Biotechs stocks in my watchlist and their performances, beginning with the letter:

I - $0.63 to $0.22 (65%)
I - $0.72 to $0.4 (44%)
P - $0.305 to $0.115 (63%)
I - $0.205 to $0.12 (41%)
I - $0.515 to $0.185 (64%)
P - $0.063 to $0.021 (66%)
R - $2 to $1 (50%)

As you can see, huge correction across the board regardless of how well the companies are doing, including RAC for all its positive news.

IBB, XBI, all other biotech indexes show the same trajectories for the last 1 year.

New retail investors have been spooked, traders packed their bags, longs are left averaging down. US listings turned out useless, even big players stocks like Roth Capital are demolished.

Now, I don’t think not doing the CR at $3 just when chart was looking like breaking out on cardio protection news would’ve changed anything, we’d still be here.

What is needed more than news is investors coming on board to biotech. Biotech sell-off has hammered P/E ratios, as the recession gets underway investors will come back to value stocks such as biotechs with decent P/E and that’s when the biotech ETFs will turn around with higher highs and higher lows.

If history is anything to go by, that always happens in the long run. RAC is 2/3 my portfolio, I don’t have any more spare cash and am happy to wait years on 5 digit losses. How low this goes depends on how many others can do that like me.