I was talking with an old college buddy the other day, and he was lamenting his recent investment performance. Up until a few years ago, he could do no wrong chasing the latest hot trade in small-cap biotech stocks.
We’re not talking beer money winnings, either. We’re talking life-changing money. My friend’s best trade to date was buying 5,000 shares of Pacific Biosciences (PACB) in the early days of the pandemic at $3.50 a share …. then selling half of it at around $35 a share last year!
That’s $70,000 in profits in less than two years.
On one trade.
Of course, things have been much harder for him in 2022.… Read more