Emma Asma Cornwall
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All posts from Emma Asma Cornwall
Emma Asma Cornwall in Gainers & Losers,

Market overreacted on ​Illumina's results

Illumina sank about 25% after the genetic testing tools maker predicted that sales in the first quarter will be far lower than analysts expected.

The firm said it expects revenues of $572 million, well below the $596 million originally forecast, citing weak device sales. Illumina added it sees 2016 revenue growth of 12 percent, its slowest in four years, according to ABC News.

Well I must say I disagree with such overreaction of the market. Also one can notice that the stock price is right above support level and probably won't go lower. A bounce is possible in short term!