Andreas Argyrides, vice president of equity research at Wedbush Securities, told BNN Bloomberg on Tuesday that while a high interest rate environment tends to weigh on the biotech sector, there are several companies currently being overlooked by investors.He called this a “good stock environment” for the industry, and said he looks at late-stage companies with strong financial assets, good balance sheets and good prospects for future revenue growth.
The world economy has lost momentum from the impact of higher interest rates, the invasion of Ukraine and widening geopolitical rifts, and it now faces new uncertainty from the war between Israel and Hamas militants, International Monetary Fund warned Tuesday.Workers at General Motors Co.’s Canadian plants are on strike, idling key factories in Ontario, after contract negotiations with the union representing about 4,300 employees failed to bring an agreement.
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