Investors with a long-term mind-set might have found a lot to like about Fluidigm (NASDAQ: FLDM) at the beginning of the year. The laboratory hardware developer was still a few years away from profitability, but appeared to be on the path to achieving sustainable operations thanks to strength from its core instrument platform. That observation prompted me to make the case for staking a small position in the slow-growing hardware business in February.
Then things got a little crazy. Fluidigm made an appearance on Mad Money's Lighting Round segment shortly thereafter. Shares climbed to a 60% year-to-date gain by April -- not exactly what I had in mind when I pleaded patience and a long time horizon. The epic rise was followed by a precipitous fall when the business reported lackluster second-quarter 2019 operating results in August. Shares have now lost 35% on the year.
The volatility hasn't been fun, but the business still has the same potential now as it did at the beginning of the year. Investors simply need the proper perspective for defining the company's success and progress. Luckily, it all boils down to one metric.