Why ViewRay Stock Fell 56% in August
Shares of medical-device maker ViewRay (NASDAQ: VRAY) tumbled 56% in August, according to data provided by S&P Global Market Intelligence. That more than erased the gains the stock had seen during the first half of the year, as shares dropped to their lowest point since early 2017.
ViewRay manufactures the MRIdian line of radiation oncology devices. These machines use MRI technology to allow for delivery of radiotherapy doses to precise locations within the body. The company faces stiff competition from competitors in the space.
ViewRay hopes its state-of-the-art radiation therapy devices can propel it to outperformance. Image source: Getty Images.
Source Fool.com
