Is Veracyte Still a Buy After Its Recent Rally?
Shares of genetic diagnostics company Veracyte (NASDAQ: VCYT) are down 47% from their 52-week high of $86 set in February. Meanwhile, the S&P 500 is only down about 4% from its 52-week high set in September.
Today's common investors follow stock price trends believing a huge decline signals warranted concern and that a sharp increase screams stability. Those could be true, but in cases when the changes aren't a result of the company's fundamentals this notion could be completely inaccurate. Smart investors know that a decline of a fundamentally sound company could be the time to capitalize on the market's blunder. So, has this recent underperformance from Veracyte made the stock more attractive? Or should growth investors steer clear of it?
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Source Fool.com
