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Stock impact report

Is ImmunityBio, Inc. (NASDAQ:IBRX) The Top Penny Stock That Will Skyrocket? [Yahoo! Finance]

ImmunityBio, Inc. (IBRX) 
Company Research Source: Yahoo! Finance
On March 21, Jason D. Pride, Chief of Investment Strategy & Research at Glenmede, and Stephen DeNichilo Senior Portfolio Manager at Federated Hermes appeared on a CNBC interview to talk about the favorable sectors in the market. Jason noted that the market needs to calm down on the Magnificent Seven, as this category has been one of the most concentrated sectors in history. He believes that this above-par level of concentration will lead the Magnificent Seven down, similar to what the market saw back in 1999 and the 20s. This high level of concentration tells a lot about the future performance and as far as the Magnificent Seven stocks are concerned, Jason does not see the future performance coming from this sector. He argues that the future performance will come from sectors that are not too concentrated at the moment such as the small-cap and pretty much the other 493 stocks in the S&P 500. Investors should be looking at diversifying their portfolios as this is the environment wh Show less Read more
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