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Why Quidel Stock Got Crushed on Monday

TheMotleyFool

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Shares of Quidel (NASDAQ: QDEL) fell on Monday, continuing declines from last week. It seems the market was selling companies like Quidel that have grown revenue because of the COVID-19 pandemic. That might explain why the stock fell 10% today.

Quidel fell last week after reporting full-year 2020 results. Counterintuitive to the drop, the company's results were quite good. Revenue in 2020 rose to $1.66 billion, up 211% from revenue in 2019. Its rapid tests for COVID-19 obviously were in high demand for much of the year, leading to the outsize growth.

Image source: Getty Images.

Source Fool.com

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