The Baby Boom generation, which includes everyone born from 1946 through 1964, is now entering retirement age (65) at a rate of 10,000 per day. That demographic wave is so big that in 2010, the U.S. Administration on Aging (AoA) predicted the elderly population in this country would double to about 71 million by 2030.
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Anyone who did not "sell in May and go away" has likely enjoyed stock gains - especially in Nasdaq stocks.
But, it's the Nasdaq Composite sporting the most intense rebound after two months in the red. The Nasdaq fell 4.2% from January to mid-April, but is up nearly 6% since then.
MannKind Corp. (Nasdaq: MNKD) stock doubled Wednesday after its inhaled diabetes treatment, Afrezza, was recommended for approval by a Food and Drug Administration (FDA) advisory committee.
In a unanimous 14 to 0 thumbs-up, the group voted Afrezza should be approved for type 2 diabetes, the more common form of the blood sugar disease. In a near-united nod, the group voted 13 to 1 in favor of Afrezza's approval for type 1 diabetes.