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Stockwatch: Biotech Triggers Its Own Sell-Off

This article was originally published in Scrip

Executive Summary

Last week, second-quarter earnings season degenerated not just into the long tail of loss-making companies reporting, well, their losses, but into a savage sell-off that even took the shine off the good news. Stock market commentators will look to various factors to explain the sell-off, but this time there is no single underlying cause. It was triggered by a set of independent, unconnected and cumulative events.

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