Invitae Gained as Much as 11.8% Today, but It Might Not Last
Shares of Invitae (NYSE: NVTA) rose nearly 12% today as the S&P 500 continued its seemingly improbable bounce back from March lows. There's a global pandemic. Tens of millions of Americans are out of work. Energy prices and demand have collapsed. The European Union as an entity might not survive the financial consequences of the health crisis. But none of that has stopped Wall Street from seeing better days over the horizon.
There's nothing inherently wrong with being optimistic about the global economy, but many economists think the issue is really one of timing. In other words, the true economic impacts of the coronavirus pandemic have yet to be factored into the stock market because it takes time to collect, process, and publish the data.
Unfortunately, the same could be true for Invitae, especially if a warning from a peer is any guide. As of 3:13 p.m. EDT, the growth stock had settled to a 9.4% gain.
Source Fool.com
