We all know the US is currently under the control by a dementia, a fake president who has no idea what he is doing.
The whole world has seen a joke of the terrible performance the Fake President Biden put on at the G-7 meeting (forgetting things, getting lost, generally bumbling around).
And then this nuts behavior: At a White House press conference on Thursday, US President Biden was photographed by foreign media when he was leaning over and "whispering into the microphone forcefully" while he was talking about policies.
While it is a grave pity for the US managed by such an idiot, we are seeing some hope as the world's very first anti-dementia drug has just got approved. However, the clearance of this Alzheimer's disease drug, aducanumab, has since proven to be highly controversial. The FDA has faced criticism for approving the drug over the objections of its outside expert advisory committee, and three of the panelists have resigned. One, Aaron Kesselheim, a top Harvard doctor, called the decision "probably the worst drug approval decision in recent U.S. history." Nevertheless, I think Biden may be a great patient to use this drug, which may help him, which will accordingly help the US, regain the sanity somewhat😜😏
Investment wise, BIIB has decisively broken through its 5 year sideway trading range following this breakthrough approval. Right now the initial euphoria is fading, a normal post-excitement reaction. I can easily see it decline towards its upper end of the trading range, now the support around $320 or even a bit lower. We are yet to see if this support can hold as the controversial approval may have some lingering effect. But most likely it can and it will become its launch dock for its next leg up.
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