Will Regeneron Help Win the Fight Against COVID-19?
With the COVID-19 pandemic showing no signs of subsiding, investing in companies developing a cure for the virus can be a great hedge for the rest of an investment portfolio. As of July 24, shares of large-cap biotech company Regeneron Pharmaceuticals (NASDAQ: REGN) have returned more than 62% for investors year to date. An investment of $20,000 at the beginning of the year would have grown to $32,436 in the span of seven months. That's quite impressive, considering that the S&P 500 index fell by about 1% during the same period.
With the stock reaching record-high levels, investors may feel uncomfortable holding onto large profits and wish to sell now to buy it back later for a lower price. On the contrary, I think that Regeneron's winning streak is far from over and will leave little room for investors on the sideline wanting to buy the dip. Let's take a look as to why.
Image source: Getty Images.
Source Fool.com
