Why Amarin Stock Tumbled in November
Shares of the cardiovascular disease specialist Amarin (NASDAQ: AMRN) lost approximately a quarter of their value during the month of November, according to data from S&P Global Market Intelligence. The silver lining is that the biotech's shares didn't crater in response to a negative material event.
Rather, Amarin's stock appears to have simply followed the broader biotech space downward last month. Biotech stocks fell across the board in November due to the emergence of the omicron variant, a recent spike in core inflation in the U.S., and presumably, a wave of tax-loss harvesting.
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Source Fool.com
