Down 15% in 2023, Should You Buy the Dip With Illumina Stock?

's (NASDAQ: ILMN) stock is down by 15% this year so far, and it's no surprise why. With the new disclosure of a Securities and Exchange Commission (SEC) investigation into its bedraggled acquisition of Grail, a genetic-testing company it originally founded, and a $476 million fine from regulators in the E.U. just one month ago on account of the purchase in advance of regulatory permission, things look fraught.

And that's before even taking into account the instability that its recent and ongoing leadership shake-up may have caused: the exit of its chief executive officer (CEO), chief financial officer (CFO), and chief technology officer (CTO), as well as the addition of two new board members amid a proxy fight with activist shareholders.

So is this turbulence just a bump in the road that'll soon give way to growth once more, thereby justifying buying the dip, or is ongoing stagnation the more likely outcome? Let's dive in and figure it out. 

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Source Fool.com