If You Invested $10,000 in Invitae in 2018, This Is How Much You Would Have Today
Genetic testing company Invitae (NYSE: NVTA) has a lot of long-term potential as it could help improve the quality of healthcare for people and play a big role in transforming the industry. It has an ambitious goal of making genetic testing more efficient and affordable. But it's an uphill challenge because although the company has achieved significant growth over the years, it has also been incurring large losses. Below, I'll look at how much a $10,000 investment in the company would be worth today, and whether you should consider buying shares today.
In 2018, Invitae was coming off a year where its revenue totaled $68 million and had more than doubled the prior-year's tally of $25 million. It was a hot growth stock but also an incredibly risky and unprofitable one, incurring a loss of more than $123 million that year.
On the first day of trading in 2018, the stock closed at a price of $9.34. If you invested $10,000 at that price, you would have been able to buy roughly 1,071 shares. Today, that investment would be worth around $2,180, a decline of 78%.
Source Fool.com
