Co-Diagnostics (CODX -38.9%)
represents a shining example of the risks in playing a highly volatile
stock amid market turmoil related to COVID-19. Shares are down 72% from the high of $21.67 on March 2. The high represented a 20-fold rally from the close of $1.07 on January 17.
Today’s action represents profit-taking and the
(now) widespread availability of testing services for patients. Adding
to the selloff was the news this
morning that Aytu BioScience has secured exclusive U.S. rights to a
rapid point-of-care blood test used to screen for SARS-CoV-2 infection.
Aytu rocketed almost 8-fold before retracing, still up 443% from yesterday.
https://seekingalpha.com/news/3550243-co-diagnostics-down-39-on-proliferation-of-covidminus-19-competitors
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