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Here's Why Fulgent Genetics Is Skyrocketing 16.7% Today

TheMotleyFool

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Here's Why Fulgent Genetics Is Skyrocketing 16.7% Today

Fulgent Genetics (NASDAQ: FLGT) shares are soaring 16.7% at 11:30 a.m. EDT on Thursday after New York City selected it to provide COVID-19 testing services for its public school system.

A slowdown in doctor visits slowed demand for Fulgent Genetics genetic tests for cancer patients and parents-to-be, but it's more than making up for that slowdown by providing COVID-19 testing to government and commercial customers.

Image source: Getty Images.

Source Fool.com

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