Why Invitae Skyrocketed 20.5% Today

Invitae's (NYSE: NVTA) shares soared 20.5% on Wednesday as bargain-hunters and short covering converged to send the iShares Russell 2000 Index ETF (NYSEMKT: IWM) index 1.9% higher today.

Global stock markets have tumbled on fear that social distancing and sheltering in place is causing a significant slowdown in economic activity. The iShares Russell 2000 Index ETF has lost almost 40% of its value in 2020, and Invitae, which is a member of that index, was down roughly 25% year-to-date through Tuesday's close.

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Source Fool.com