Here's Why Athersys Tumbled 23.3% in April
Shares of Athersys (NASDAQ: ATHX) declined more than 23% last month, according to data provided by S&P Global Market Intelligence. By comparison, the S&P 500 rose 12.7% in one of its best months on record. But investors might not be too concerned. The stem cell stock's April decline was really just a matter of timing.
Athersys has opportunistically positioned itself to respond to the coronavirus pandemic, and has been rewarded by investors. Shares of the small-cap stock more than doubled from the beginning of 2020 to the end of March. Therefore, April's decline was simply a correction. The stock has delivered a 111% gain year to date.
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Source Fool.com
