Why Shares of Guardant Health Dropped 33.6% in May
Guardant Health (NASDAQ: GH), a diagnostic precision oncology testing company, saw its shares plummet 33.6% in May, according to data from S&P Global Market Intelligence. The stock closed at $61.70 a share on April 29, the last trading day of the month. It opened at $61.98 on Monday, May 2, then fell to a 52-week low of $27.65 on May 12, before responding a bit, closing out May at $40.98. For the year, the stock is down more than 61%.
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That Guardant's stock would fall last month was not surprising considering the S&P 500 index fell 8.53% in May and the tech-heavy Nasdaq fell 14.94% in May. But Guardant's fall was deeper because it isn't profitable yet, and after its first-quarter earnings report it appears to be drifting farther away from being in the black.
Source Fool.com
