Why Celgene's Stock Nosedived in October [The Motley Fool]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: The Motley Fool
Celgene's stock couldn't escape the market's wrath toward biotech last month. George Budwell ( TMFGBudwell ) Nov 12, 2018 at 8:22AM What happened Shares of the blue-chip biotech giant Celgene Corp. ( NASDAQ:CELG ) sank by a worrisome 20.3% in October, according to S&P Global Market Intelligence . The good news, if you can call it that, is that Celgene's shares didn't hit the skids because of a company-specific event. Instead, the biotech's stock simply traded downward in sympathy with the biotech industry as a whole. In response to President Trump's heightened trade war with China, investors fled biotech stocks en masse last month -- illustrated nicely by the dramatic downturn in the bellwether iShares Nasdaq Biotechnology ETF ( NASDAQ:IBB ) for the month of October. CELG data by YCharts . So what The magnitude of this lat
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