AMRS - Why Amyris Stock Tumbled This Week
One of the more interesting biotech stocks on the scene, next-generation materials maker Amyris (NASDAQ: AMRS) , wasn't very inspiring for investors this week. The company's share price plummeted by 16% over the period, according to data compiled by S&P Global Market Intelligence , on the back of a new financing effort.
Amyris had a good news/bad news Tuesday, with the market deciding that the latter outweighed the former.
The good was that three of the specialized biotech company's products will be included in the offerings of Sephora when the big cosmetics retailer launches its U.K. website. That's slated to occur this coming Monday, Oct. 17. While having three out of the undoubtedly many Sephora products on the site isn't considerable and thus won't generate monster sales, being in that selection is indisputably a positive development for Amyris.
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Why Amyris Stock Tumbled This Week