Most biotech stocks have high debt and no sales. They exist on the promise of something big in the future. They are the stocks that shine in a "risk on" market, and not a rising rates "risk off" environment.
A way to short biotech stocks in the event of a biotech bubble burst is in BIS.
We are already seeing traders position for a burst of the biotech bubble as evidenced by the explosion higher in trading on BIS. BIS has done a candle over candle reversal, and has even confirmed the reversal. Still, extreme caution is warranted with stops just below support.