NVTA - Down 97% Is It Finally Time to Buy Invitae Stock?
2023-07-26 05:13:00 ET
If you've only recently learned about Invitae (NYSE: NVTA) , you can consider yourself lucky. A few years ago, the diagnostics business wowed Wall Street with plans to bring genetic testing to the masses. Investors convinced it would become a leading provider of genetic testing pushed its market cap to a peak above $10 billion.
Invitae's plans captivated growth stock investors when interest rates were near zero and fresh capital was easy to find. Now that interest rates have risen, the market is increasingly focused on Invitae's bottom line, which remains deep in red territory.
Now, Invitae's market cap has fallen to just $352 million. But the stock could produce enormous gains for new investors if it regains just a fraction of its former glory.
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Down 97%, Is It Finally Time to Buy Invitae Stock?