NVCR - Why Novocure Stock Sank Today
Shares of Novocure (NASDAQ: NVCR) were sinking 9.2% as of 3:30 p.m. on Tuesday. The oncology therapy company didn't announce any news, so why did the stock fall on a day when the overall market soared? The most likely reason is that some investors decided to lock in profits after Novocure's year-to-date gain of nearly 60% as of the market close on Monday.
Profit-taking after big gains isn't unusual. That's especially the case with relatively small healthcare stocks like Novocure that are still in their early stages of growth. But these are the kinds of stocks that often become much bigger winners for investors who patiently hold on to their positions rather than selling prematurely.
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Why Novocure Stock Sank Today