Here's Why Invitae Stock Dropped Today
Shares of Invitae (NYSE: NVTA) closed down 11.3% today as the broader market continued to fall. Investors are coming to grips that efforts to contain regional coronavirus outbreaks -- in fact, the novel coronavirus was just declared a global pandemic -- will have a significant negative impact on the global economy. And they're adjusting accordingly.
While there wasn't any company-specific news today, growth stocks tend to trade at healthy premiums. That makes them prime targets during market corrections -- and they tend to fall the hardest.
As of market close, shares of Invitae had settled to an 11.2% loss. The growth stock has now lost 1.7% since the beginning of 2020.
Source Fool.com
