Invitae Stock Soars 277% in a Day: Time to Buy?
For medical genetics specialist Invitae's (NYSE: NVTA) downtrodden investors, there was a lot riding on the company's second-quarter earnings release. An 85% share decline year to date can impart a make-or-break feeling to a fiscal report.
As always, whether the results were a success or a flop is in the eye of the beholder. Still, there were undeniable highlights in the data and, perhaps, a cause for Invitae's shareholders to stage a relief rally.
The buying frenzy that ensued, however, appears overdone and could be a function of mid-2022's short-squeeze revival rather than perceived improvement in Invitae's financials.
Source Fool.com
