While investors anticipate the Fed to turn dovish in light of the banking crisis, rising oil prices might lead to inflation remaining high in the foreseeable future. Since the high inflation is driving healthcare spending higher each passing day, it could be wise to steer clear of fundamentally weak medical stocks Pacific Biosciences of California, Inc. (PACB), DermTech, Inc. (DMTK), and Genetic Technologies Limited (GENE).
The healthcare business is becoming increasingly vulnerable to the effects of inflation. After two years of battling the impacts of COVID-19 and still dealing with the fallout from the pandemic, the healthcare industry is now confronted with a new set of issues.
