NVCR - Is NovoCure's Stock Headed for a Free Fall?
2023-08-31 09:55:00 ET
On Monday, shares of healthcare company NovoCure (NASDAQ: NVCR) nosedived by a staggering 38%. That was because the company's ovarian cancer treatment failed to demonstrate that it could improve patient survival rates. As a result of the decline, the stock hit a new 52-week low. In fact, it hasn't traded around these levels since late 2017. It's a monstrous sell-off for the company.
Is this just the beginning of the decline, or should investors consider buying the stock at a significantly reduced price?
The big concern with the business right now is that a lot of the hopes investors may have centered around the company's tumor treating fields (TTF) devices in being able to treat difficult types of cancers. That can be a lofty goal and while the upside may be significant, so is the risk of failure.
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Is NovoCure's Stock Headed for a Free Fall?