Aug. 6 at 3:21 AM
$PACB Bio has been a mixed bag so far this earning season. Mostly positive, but the laggards have been severely punished. Just look at
$PSNL after hours today.
$FTRE and
$VCYT report tomorrow. The former in particular could be telling for
$PACB, but frankly it’s a crap shoot. The bottom line is bio and pharma continue to be in a deep recession. FDA churn is not helping.
I expect Q2 to be rough. It’s normally the slowest quarter for the bio sector.
BUT, if
$PACB managed to meet or exceed, we should be able to confidently say, ”the bottom is in.” THE risk is if
$PACB had a bad Q2, it’s likely to get hit hard (fall below strong support at
$1.30 and potentially re-test the sub-
$1 lows).
Regardless, IMHO Q2 doesn’t matter. Guidance for Q3 and Q4 matters. I’m not a short term trader on
$PACB. I’m in for the long-term vision, and that vision sees the value in
$PACB,
$PSNL, and
$WGS just to name a few.
