Why Amarin Stock Lost 13.4% in January
Shares of Amarin (NASDAQ: AMRN), a mid-cap drugmaker, dropped by 13.4% last month, according to data from S&P Global Market Intelligence. Shares took a beating in January for two reasons:
First, Amarin has long been rumored to be a top buyout candidate. A worthwhile tender offer has yet to materialize, however. As a result, investors looking for a quick buck on a high-priced buyout appear to be moving on to greener pastures.
Second, nearly all biotech stocks took a sizable downturn toward the tail end of January due to the growing concerns over the Wuhan coronavirus. The core reason is that this emerging viral pandemic is now expected to have a profound effect on the global economy in 2020.
Source Fool.com
