May Extends April’s Rebound from March Lows
The OIS Index of ophthalmic stocks gained 7.9% in May, following a 12.2% gain in April, extending the rebound from the mid-March lows. Over the past three months, ophthalmic stocks have closely tracked the overall US stock market but have underperformed the biotech and medical device sectors.
The OIS Index exited May only 13% below its all-time high reached in February 2020, returning to levels seen as recently as six months ago. Biotech stocks have been particularly strong during this volatile period, with the NASDAQ Biotechnology Index posting its all-time high in May.
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