(Certain portions of this post are copied from an earlier post but zones are changing.)
LABD is a triple leveraged inverse ETF which moves up when biotech and drug stocks go down. The present prices of drugs in the U. S. are simply unsustainable. Trump has said that drug companies are getting away with murder. All it will take is another tweet from Trump or a bill introduced in the Congress by Republicans to make drug and biotech stocks go down.
Lately there has been a lot of buying in these stocks on the theory that the market has moved up and there is too much risk in stocks that have been performing well such as financials, industrials, technology and energy.