VCYT - This Small-Cap Stock Is a No-Brainer Buy
It's no secret that growth stocks struggled mightily in 2022 amid high inflation and surging interest rates. This is at least partially why the Nasdaq Composite shed a third of its value last year.
And many growth stocks were hit even harder. Share prices of genetic testing company Veracyte (NASDAQ: VCYT) plummeted 42% in 2022. But with the stock already up 18% in 2023, sometimes all it takes for a quality stock to recover is a new year. Here's why I believe Veracyte is a no-brainer buy for growth investors.
In the practice of medicine, making accurate diagnoses is of the utmost importance. Misdiagnoses can lead to delays in appropriate treatment of a disease and sometimes result in a worsened prognosis. Veracyte's diagnostic tests for numerous conditions, including lung cancer, breast cancer, prostate cancer, and bladder cancer, help doctors to answer clinical questions and guide treatment decisions. The tests are effective and insurance companies are recognizing the level of quality. These are part of why the demand for Veracyte's diagnostic tests will likely grow with each passing year.
For further details see:
This Small-Cap Stock Is a No-Brainer Buy