Biotechs are getting crushed, extending losses of the last few days as it appears the earnings beat for Facebook has sparked a great rotation from everything into the social network.
Because nothing says safety like a stock trading 83.5x P/E…
Yes we know Fwd P/E is “just” 35x… This has dragged FB back into the green for the year but TSLA and NFLX are getting hammered…
via Zero Hedge http://ift.tt/1Pl8zjB Tyler Durden