Volatility (VIX) – There's an old saying on the Street that goes "bulls make money, bears make money, pigs get slaughtered." It's been a while, but for the bears, this was finally proven right again yesterday. A common bear favorite is the Volatility Index, or VIX, which is essentially a "fear gauge" for investors, and on a day like yesterday, fear reigned supreme, giving the VIX a 22% boost.
Cytokinetics ($CYTK) – Another saying everyone knows of course, is "when all else fails, gamble degenerately on biotech names." Never has that wisdom been more true than yesterday. While Cytokinetics may be unfamiliar to you, it does in fact make revenue and it was a true diamond in the rough on Monday. The San Fran-based biopharma firm announced a new drug aimed at helping those with a certain genetic heart disease, leading to a monstrous gain of over 40%.
BioNTech ($BNTX) – Finally, some love for our friend BioNTech, the German biopharma company that teamed up with Pfizer to help save humanity. Gaining 4.8%, BioNTech announced an expansion of geography and disease-fighting capabilities all in one. The firm will be buying a production and R&D site from a subsidiary of Gilead, which the company will utilize to focus on new cancer research.
...on another note, the WSO Alpha portfolio was down only 0.5% yesterday. This qualifies as "ripe' when the Nasdaq is down 1.1% and the S&P 500 is down 1.6%. See all 30+ holdings here.