Why Shares of Quidel Surged 10% This Week
Shares of Quidel Corporation (NASDAQ: QDEL) climbed 10% this week as of Thursday's close. Demand for at-home COVID testing is outstripping supply, with the delta variant pushing infections back to levels last seen in January.
Image source: Getty Images.
Early last month, Quidel said sales in its fiscal second quarter declined 12% from the year earlier due in part to a drop-off in its COVID testing business. It doesn't appear that will be a problem next quarter as cases in the U.S. have climbed tenfold in the past two months. A company spokesperson said it is working with retailers to keep the company's QuickVue at-home test in stock.
Source Fool.com
