GNMK - Why GenMark Diagnostics Stock Is Falling Today
Shares of GenMark Diagnostics (NASDAQ: GNMK) were falling 12.7% lower as of 11:20 a.m. EST on Friday. This drop might be surprising, since the company didn't report any news and stands to benefit as the novel coronavirus outbreak drives sales for its coronavirus test kits. But it appears that investors are taking profits off the table after GenMark's shares soared earlier this week.
Today's nosedive really doesn't mean much in the big scheme of things. What does matter? GenMark's business prospects.
Those prospects are certainly better now that GenMark has begun shipping its ePlex test kits, which are designed to test the novel coronavirus that causes COVID-19. For now, though, the test kits are available for research use only.