Why 23andMe Stock Crashed 10% Today

Shares of genetic data miner 23andMe Holding (NASDAQ: ME) had a good week last week, surging more than 13% in response to a positive second-quarter 2022 earnings report Thursday. But as I warned at the time, the news wasn't quite as good as it looked, and 23andMe's gains started fading on Friday.

Things got even worse today, when investors responded to a downgrade of 23andMe stock by a Citigroup analyst -- by selling off the stock by 10.1% (as of 11:30 a.m. EST).

Image source: Getty Images.

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Source Fool.com