Why Co-Diagnostics Stock Soared 59% in May

Co-Diagnostics (NASDAQ: CODX) stock soared 58.7% in May, according to data from S&P Global Market Intelligence. For context, the S&P 500 returned about 4.8% last month.

Shares of the healthcare diagnostics specialist, however, gave back some of May's fat gain during the first week of June. Last week, the stock fell 11.2%, while the S&P 500 was up nearly 5%.

Co-Diagnostics stock remains a massive winner this year. In 2020, it's up 1,690% through Friday, making it nearly an 18-bagger! By comparison, the S&P 500 has almost recovered from its earlier plunge, but is a hair shy of breakeven for the period.

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Source Fool.com