Here's Why Invitae Stock Popped as Much as 13.2% Today
Shares of genetic-testing company Invitae (NYSE: NVTA) rose over 13% today on an upbeat day for the stock market. The S&P 500 rose over 1.5% as investors cheered plans by some countries and U.S. states to soon begin reopening parts of their economies.
While the broad economic damage caused by the coronavirus pandemic might take quarters or years to repair, the genetic testing industry might experience a faster recovery. That's because strict stay-at-home orders are negatively impacting the number of genetic tests and diagnostics ordered by doctors. But if restrictions are loosened in the coming weeks or months, then doctors should be able to resume certain types of essential services, such as hereditary tests for pregnant women or oncology testing for cancer patients.
As of 3:15 p.m. EDT, the growth stock had settled to a 8.4% gain.
Source Fool.com
