Investors took the measure of healthcare testing products specialist Co-Diagnostics (NASDAQ: CODX) and gave it an enthusiastic thumbs-up on Thursday: The company's stock closed the session more than 7% higher. That far outpaced the S&P 500 index's 2% gain on the day.
The stock's upward move was propelled by fresh news from the company about its potential role in combating the latest potential global health threat.
Thursday morning, Co-Diagnostics announced that it has leveraged its molecular diagnostics platform to finish the principal design work on a PCR test for monkeypox, a rare and occasionally deadly virus first detected in Southern Africa.
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Why Co-Diagnostics Trounced the Market on Thursday