SPDR S&P Biotech ETF (XBI)

by | Sep 13, 2022 | Daily Trade Alerts

President Biden just signed an executive order to launch the National Biotechnology and Biomanufacturing Initiative, which could spur a biotech boom in the U.S.

In fact, according to the White House, “Bioeconomy remains an American strength—as well as a huge opportunity—given our industries, our innovators, and our robust research enterprise. By responsibly harnessing the full potential of biotechnology and biomanufacturing, we will be able to realize the potential of biology that can make almost anything that we use in our day-to-day lives, from medicines to fuels to plastics, and continue to drive U.S. innovation into economic and societal success.”

One way to trade the news is with a biotech ETF, such as the SPDR S&P Biotech ETF (XBI). With an expense ratio of 0.35%, some of its top holdings include Global Blood Therapeutics, Chemocentryx Inc., Beam Therapeutics, Twist Bioscience, and PTC Therapeutics to name a few.

The XBI last traded at $88.68. From here, we’d like to see it again challenge $95 a share.


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