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Tuesday, November 5, 2024

Bay Harbor Islands company Fortress Biotech Inc. (FBIO:NAQ) working in Pharmaceuticals and Biotechnology sees value fall 55% in week ending April 16

Stock market 14 edited

Value in Pharmaceuticals and Biotechnology stocks fell 1.7 percent in the week ending April 16 from the previous week.

The strongest performing Pharmaceuticals and Biotechnology company in Florida was CLS Holdings USA Inc. (CLSH:QBB), sitting 2,297.3 percent higher to sell at $0.0828.

Fortress Biotech Inc. (FBIO:NAQ) fared the worst among Florida companies, suffering a 55 percent drop to $1.15.

The Investment Banking and Brokerage Services industry was the week’s best-performing industry on the market. The market is divided into 45 different industries.

Finance and Credit Services was the worst-performing industry.

Healthcare and technology stocks are viewed as the safest bets for long-term gains.

Besty Kuekcer with Benzinga.com said healthcare-related stocks, such as hospital conglomerates and insurance companies, have weathered numerous economic crises and still make a profit, suggesting that they are generally a stable investment.

While technology stocks can be more risky, given the boom-bust nature of new tech companies, Kuecker recommended a diverse portfolio of tech companies to strike it big when companies succeed or sell to other larger companies.

For short-term investments, Kuecker recommended “consumer discretionary” stocks, which are sensitive to economic changes but can rise greatly on the back of a strong economy.

Nothing in this article is to be assumed as financial advice.

Rank of stock market industries in week ending April 16

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Investment Banking and Brokerage Services4.5%538.8%-99.1%
Personal Goods4.4%278.3%-93.5%
Travel and Leisure4.3%1,874.1%-88.2%
Alternative Energy3.9%653.2%-86.1%
Industrial Metals and Mining3.8%10,800.9%-98.5%
Telecommunications Equipment3.8%1,390.6%-93.8%
Precious Metals and Mining3.5%1,381.2%-88.7%
Aerospace and Defense3.3%1,823.1%-83.8%
Mortgage Real Estate Investment Trusts3%88.3%-59.8%
Household Goods and Home Construction3%453.4%-90.7%
Industrial Transportation3%271.1%-93.5%
Industrial Support Services2.6%1,925.9%-97.9%
Oil, Gas and Coal2.4%14,010%-88.7%
Retailers2.4%1,182.8%-94.7%
Industrial Materials2.3%92.9%-84.3%
Technology Hardware and Equipment2%472.9%-96.5%
Beverages2%1,295.1%-93.3%
Electronic and Electrical Equipment1.9%903.6%-65.9%
Real Estate Investment and Services1.7%381.6%-78.4%
Chemicals1.5%397.3%-85.9%
Banks1.5%12,645.9%-99.9%
Software and Computer Services1.5%31,619.3%-98.9%
Tobacco1.3%33.3%-72.3%
Consumer Services1%354.8%-71.7%
Food Producers1%1,419.3%-98.5%
Automobiles and Parts0.8%507.7%-72.1%
Construction and Materials0.8%358%-87.1%
General Industrials0.7%975.4%-93.6%
Real Estate Investment Trusts0.5%358.8%-75.5%
Life Insurance0.3%168.7%-91.7%
Media0.3%626.5%-82.2%
Open End and Miscellaneous Investment Vehicles0.2%1,357,042.9%-99.9%
Personal Care, Drug and Grocery Stores0.2%110,832.3%-58.8%
Industrial Engineering-0.1%1,642.9%-92.5%
Health Care Providers-0.6%186.7%-86.1%
Leisure Goods-0.6%1,051.7%-83.1%
Closed End Investments-0.8%2,254.5%-95.9%
Gas, Water and Multi-utilities-1.2%377.4%-39.7%
Electricity-1.2%125%-53%
Pharmaceuticals and Biotechnology-1.7%40,385.6%-93.8%
Waste and Disposal Services-1.8%347.9%-77.1%
Telecommunications Service Providers-1.9%500.2%-91.4%
Non-life Insurance-2.1%575.4%-93.3%
Medical Equipment and Services-2.6%2,508%-90.1%
Finance and Credit Services-3.2%306.1%-71%

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