Its been a big, albeit wholly erratic, year for Invitae (NYSE: NVTA) , one of the tech stock winners of 2020. On March 19, 2020, the stock sat at $7.43. In mid-December, it topped $61. Now, after a slide during the last month or so, it closed at $42.01 on Tuesday, March 2.
Invitae offers diagnostic and predictive genetic testing to help patients, healthcare providers, biopharma companies, and other groups diagnose specific conditions or determine someone's risk of developing certain diseases. The genetic testing market is set to be worth more than $21 billion by 2027, growing at a compound annual growth rate of 10% until then, according to a Research and Markets report. But does Invitae's current price offer a nice purchasing opportunity to get in on the industry's growth, or is its recent dive a sign of things to come?
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Should You Buy Invitae Stock?