Why Co-Diagnostics Stock Is Getting Clobbered Today
Shares of Co-Diagnostics (NASDAQ: CODX) were getting clobbered on Tuesday, with the stock down 15.9% as of 12:02 p.m. EST. The decline resulted from the molecular diagnostics company's third-quarter update, provided after the market closed on Monday. Although Co-Diagnostics reported huge revenue and earnings growth, its earnings per share of $0.53 missed the consensus analyst estimate of $0.63 per share.
Missing Wall Street analysts' expectations in one quarter really doesn't matter. What does matter is Co-Diagnostics' growth prospects and whether or not the valuation of the healthcare stock already reflects those prospects.
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Source Fool.com
