Here's Why Genetic Testing Stocks Are Down Today
Investors have been grappling with the coronavirus pandemic for a few weeks now, but new sources of uncertainty arose over the weekend. Increasingly restrictive measures are being taken by local, state, and federal authorities in the United States and Europe in an attempt to contain outbreaks. Meanwhile, China's economy took a larger-than-expected hit in January and February as the country moved to contain its own outbreak.
That led to sharply lower stock prices on Monday in nearly every industry, including genetic testing. Shares of NeoGenomics (NASDAQ: NEO) fell nearly 15%, while shares of Exact Sciences (NASDAQ: EXAS) and Invitae (NYSE: NVTA) fell over 16% each.
While the broader market tumble explains a good deal of the movements for the trio of growth stocks, investors might expect a more tangible impact from the coronavirus outbreak.
Source Fool.com
