Why Co-Diagnostics Stock Is Jumping Today

Shares of Co-Diagnostics (NASDAQ: CODX) were jumping 16.4% higher as of 11:18 a.m. EDT on Thursday after rising as much as 26.9% earlier in the day. The big gain appears to be related in part to a New York University Langone Health study that identified possible inaccuracies with Abbott Labs' (NYSE: ABT) ID NOW diagnostics test for novel coronavirus disease COVID-19. Co-Diagnostics also markets a COVID-19 diagnostic test. 

Bad news for Abbott Labs could be good news for Co-Diagnostics if it causes sales of the company's Logix Smart COVID-19 tests to rise. It remains to be seen if that's what happens, though.

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Source Fool.com