Why Shares of DermTech Dropped 19% in July
Shares of DermTech (NASDAQ: DMTK) lost 19% of their value in July, according to data provided by S&P Global Intelligence. The stock opened at $41.24 when the market opened on July 1 but was down to $33.66 at the close on July 30. The stock's nadir in the month came on July 27, when it dropped to $31.31 during the day and closed at $32.64. To say that the stock has been volatile would be an understatement -- its 52-week range is from $9.85 to $84.49.
It's easy to see that the growth stock overheated a bit early this year and when investors pivoted a bit from growth stocks to value stocks, DermTech's share price was one of the casualties.
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Source Fool.com
