QDEL - Cue Health plunges to a post-IPO low as COVID-19 test makers drop

Cue Health (NASDAQ:HLTH -18.2%) has recorded its second-worst intraday decline for this month to hit a 52-week low as the health sector along with COVID-19 test makers underperform the broader market on Wednesday. Other notable decliners include Abbott Laboratories(ABT -4.0%), Bio-Rad Laboratories (BIO -3.9%) and PerkinElmer (PKI -3.8%). Cue Health (HLTH) markets an FDA-authorized COVID-19 PCR test kit for use in homes, doctor’s offices, and non-medical office settings. The company made its public debut last September, and the shares have lost more than 50% in the year so far. Leading developers of COVID-19 tests, Abbott (ABT), Thermo Fisher Scientific (TMO -2.8%) and Quidel (QDEL -1.4%) have also declined for the year, while Becton, Dickinson (BDX -1.0%) has recorded gains. The selloff comes despite the presence of a fast-spreading subvariant of Omicron, which, according to White House chief medical advisor Dr. Anthony Fauci, could lead to another rise in COVID-19 cases in

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Cue Health plunges to a post-IPO low as COVID-19 test makers drop