FLGT - Why Fulgent Genetics Stock Surged 38% in November
Shares of genetic testing specialist Fulgent Genetics (NASDAQ: FLGT) soared 38.1% in November, according to data from S&P Global Market Intelligence . For context, the S&P 500 returned 11% last month.
In 2020, shares of the healthcare company have rocketed 238% through Friday, Dec. 4, compared to the broader market's 16.5% return over this period.
We can attribute Fulgent Genetics stock's strong performance last month in part to a continuation of the momentum it's had since the summer. This momentum is being driven by the company's robust sales of its tests for the novel coronavirus, which causes COVID-19. In addition, the stock got a boost from the company's release of third-quarter results, along with full-year guidance, that were better than Wall Street had expected.
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Why Fulgent Genetics Stock Surged 38% in November