Why STAAR Surgical Stock Dropped 12% This Week
STAAR Surgical (NASDAQ: STAA), which specializes in implantable lenses for the eye, saw its shares drop 12% this week, according to data from S&P Global Market Intelligence. The stock is down more than 58% so far this year and has a 52-week high of $163.08 and a low of $54.29, which it reached on Thursday. It closed at $60.67 last Friday.
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The company issued no news that would cause the drop, but the markets in general had a rough week, with the Dow Jones Industrial Average and the NASDAQ Index each dropping more than 2% over the past five days. Still, STAAR's shares dropped nearly 10% more than the indexes. The stock has received quite a bit of short interest, and its valuation (with a price-to-earnings (P/E) ratio of 117.58) is still high despite the stock's drop.
Source Fool.com
