Why Co-Diagnostics Stock Tumbled by Nearly 12% Today

Investors were none too happy with Co-Diagnostics (NASDAQ: CODX) on Friday. They traded the stock down by almost 12% following the release of full-year 2021 results.

For the year, Co-Diagnostics posted revenue of just under $98 million, which was a 31% improvement over the 2020 figure. The company, which has come into some prominence due to its coronavirus diagnostic products, said the increase was due largely to sales of its Logix Smart COVID-19 tests.

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Source Fool.com