Why Exact Sciences, Align Technology, and ShockWave Medical Shares Are Plunging Today
Shares of Exact Sciences (NASDAQ: EXAS), Align Technology (NASDAQ: ALGN), and ShockWave Medical (NASDAQ: SWAV) all dropped by double digits in early-morning trading on Thursday. As of 11:53 a.m. EDT, these healthcare stocks were down 7%, 9%, and 13%, respectively.
The declines do not appear to be linked to anything that the companies themselves have done. There were no press releases issued today, and none of these businesses filed anything with the SEC. No Wall Street analysts hit these companies with a downgrade, either.
That makes it likely that these growth stocks are simply being dragged down by another day of huge declines in the markets. The S&P 500, Dow Jones Industrial, and Nasdaq all dropped at least 5% in early-morning trading over the growing panic related to the spread of the novel coronavirus.
Source Fool.com
