Why Universal Display Stock Dropped 14.5% in January
Shares of Universal Display (NASDAQ: OLED) fell 14.5% in January, according to data from S&P Global Market Intelligence, amid fears over the impact of China's coronavirus outbreak on the OLED technology leader.
It likely didn't help that Universal Display was one of the market's top tech stocks last year, soaring more than 150% in 2019. But last month's drop accelerated in tandem with public concern over the outbreak, culminating in a more-than-6% drop on Jan. 27 alone after Susquehanna analyst Mehdi Hosseini pointed out roughly a third of China's OLED manufacturing capacity is located in Hubei province, including its capital of Wuhan.
Image source: Universal Display.
Source Fool.com
