Biotech Healthcare ETF redemptionsThe main reason for these oversold conditions is redemptions of healthcare and biotech ETFs.
Such redemptions required Etf content to be dumped and redeemed for cash.
This caused many retail investors to sell as well and the shorts took advantage of both.
The benefits are that such oversold conditions have created unique buying opps.
Healthcare is still the best sector to be in.
Afterall, what else offers such sustained growth