Much of the allure of health-care stocks has worn off. “Contrary to what many would believe, Covid-19 is not a net positive for the sector. It is simply less negative than it is for many sectors.'
Investors are struggling to predict where the stock market is headed next. Even so, many are already betting that health-care shares won’t lead the way.
The sector offered shelter for investors—followed by an outsize rebound—during the market turbulence earlier this year. With several companies scrambling to create the first effective coronavirus vaccine or treatment, health-care stocks suddenly appeared to offer big opportunities for gains.
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