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27.05.2022 20:28:21

Why 23andMe Stock Was Lagging the Market Today

The stock market was experiencing a frothy Friday on the last trading day of the week, but 23andMe Holding (NASDAQ: ME) was a bit of a wallflower at the party. As of 1:30 p.m. ET , the genetic testing and research specialist's shares were up only incrementally, at a rate well behind the S&P 500 index's 1.7% gain. Investors were holding back after the company reported its latest set of quarterly results. For 23andMe's fourth quarter of fiscal 2022, the company recorded just under $101 million in revenue, which was 14% higher than the same period of the previous year. On the bottom line, its net loss deepened but not by much, landing at nearly $70 million ($0.16 per share) against the year-ago shortfall of $67 million.Image source: Getty Images.Continue reading
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