Why Invitae Stock Is Falling Today

Genetic testing specialist Invitae (NYSE: NVTA) isn't having a great start to the week. The company's shares fell by more than 10% on Monday, and on Tuesday, it is extending these losses. Invitae's stock was down by 8.4% as of 1:06 p.m. EST today, after falling by as much as 15.2% earlier in the day. There doesn't seem to be any company-specific news that is driving the company's shares down. Instead, Invitae is likely guilty of general stock market volatility.

As of this writing, all three major U.S. stock market indexes are down. Invitae's shares are probably being dragged down along with the broader market. The company's stock has been on fire over the past year, soaring by 78.8%, and that's even after the sell-off it experienced over the past two days. By comparison, the S&P 500 is up by 15% in the same period. Investors' enthusiasm regarding Invitae's prospects seems to be cooling off slightly, and the company's fourth-quarter and full-year financial results may have played a role.

Image source: Getty Images.

Continue reading

Source Fool.com