Illumina stock rises 2.29% and outperforms competitors
Updated
Updated · MarketWatch · May 8
Illumina stock rises 2.29% and outperforms competitors
9 articles · Updated · MarketWatch · May 8
Shares closed at $141.88 as the S&P 500 gained 0.84% to 7,398.93 and the Dow Jones Industrial Average edged up 0.02% to 49,609.16.
Illumina finished 8.78% below its 52-week high of $155.53 reached on 22 January. Labcorp, Charles River Laboratories and Quest Diagnostics all fell on the day.
Trading volume was 1.5 million shares, about 92,789 below Illumina's 50-day average of 1.6 million, indicating the gain came on lighter-than-usual activity.
Illumina's stock is rising after strong earnings, but is this a bull trap before Roche disrupts the market?
With Roche's cheaper sequencer launching this summer, can Illumina's market dominance survive the coming price war?