Invitae (NYSE: NVTA) shares dropped 17% in July as investors moved capital away from the smaller innovative genomic science stocks . No meaningful news was published about the stock, though there were announcements that other care providers would be partnering with Invitae to add genetic testing to their service selection.
Invitae is a relatively small and unprofitable company with massive growth aspirations. That attracts speculative investors, making the stock prone to substantial volatility. As the chart below shows, Invitae was quite active during a month without any important news. Its price movements were essentially more extreme versions of those exhibited by similar companies.
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Why Did Invitae Stock Fall 17% in July?