FLGT - This Stock Grew 135% Last Year and Is Down 50% From Its Highs
Investing in a growth stock can be risky if the catalyst behind its strong numbers disappears. Over the past couple of years, COVID-19 has led to some strong results for certain companies while others have faltered as a result of the pandemic.
A stock that did well due to the pandemic was diagnostics and testing company Fulgent Genetics (NASDAQ: FLGT) . When concerns around COVID-19 were high and testing volumes were through the roof, the business, and the stock, were thriving. But now, as the economy shifts gears and looks past the pandemic and toward recovery, the stock has been crashing.
Is Fulgent in trouble in a post-pandemic world or could this be an opportunity for investors to buy the stock at a significantly reduced price?
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This Stock Grew 135% Last Year and Is Down 50% From Its Highs