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Why Abbott Shares Rose 16.7% in April

TheMotleyFool

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Shares of Abbott Laboratories (NYSE: ABT) rose 16.7% in April, according to data provided by S&P Global Market Intelligence, as the company launched a third coronavirus test and announced work on a fourth.

Images source: Getty Images.

The company launched its first two coronavirus tests in late March and followed up with another test last month. The first two are molecular coronavirus detection tests, with one being the world's fastest. This portable test can be used in point-of-care situations and produces positive results in as little as five minutes and negative results in 13 minutes. The latest test is an antibody blood test that determines if a person has been previously infected with COVID-19, the illness caused by the coronavirus.

Source Fool.com

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